Centrica Energy signs balancing agreement with Niam on six solar parks in Latvia

Centrica Energy has taken a significant step in expanding its renewable energy footprint in the Baltics through a new partnership with Nordic real asset and infrastructure investor Niam. Earlier this year, the two companies signed two balancing agreements covering six solar parks in Latvia, with a total capacity of approximately 40 MWdc.

Two of the solar parks have now officially entered the commissioning phase, with the remaining sites expected to follow once the necessary permits are secured. The projects are being delivered under a balancing agreement that enables flexible market participation and supports the integration of renewable energy into the grid.

“We’re very pleased with our entry into the Latvian market together with Niam. This agreement reflects our continued commitment and ambitious targets to grow our presence – not just in Latvia, but also in Estonia and Lithuania. We see great potential in the Baltics as key players in reshaping how flexible and decentralised energy systems can operate, both nationally and across Europe,” says Michael Mouritsen Østergaard, Head of New Markets at Centrica Energy.

Linus Hägg, Chief Investment Officer, at Niam, adds: “The energy market is growing increasingly complex, requiring greater flexibility from balance service providers. In Centrica, we have found a long-term partner who understands our requirements.”

This balancing agreement marks a major milestone in Centrica Energy’s strategy to actively integrate more renewables while supporting grid stability by further leveraging real-time balancing and optimisation, hence unlocking the full potential of renewables and enabling solar assets across Latvia.