Ecology, Energy, Good for Business, Latvia, Markets and Companies, Retail

International Internet Magazine. Baltic States news & analytics Friday, 06.12.2019, 16:11

Maxima retailer to equip its Baltic stores with solar panels

BC, Vilnius, 25.04.2019.Print version
Maxima retailer plans to spend EUR 10 million over the next five years to equip its stores in the Baltic states with solar panels generating autonomous energy, Maxima Latvija spokeswoman Liene Dupate-Ugule informed BC.

A Maxima XX store at 20a Saharova Street in Riga will be the first Maxima store in Latvia to get the solar power system. The store will be provided with solar panels after a reconstruction in the second half of this year.

The Maxima spokeswoman indicated that solar power will not be just a source of green energy but will also optimize the consumption of electricity. Most of the solar energy will be generated in summer when air conditioning is in operation, therefore electricity use is at its peak.

In the coming years, throughout the Baltic countries, Maxima plans to build solar power plants with a capacity of up to 2 MW.

Alongside the introduction of a solar energy system, Maxima will also continue to consider other options for the development of renewable energy infrastructure, Dupate-Ugule said.

“Energy efficiency is one of our priorities. Our current store modernisation programme demonstrates energy savings by up to 30%, and the launch of the solar initiative takes us closer to climate-neutral operations,” explains Maxima Latvija Board Member Janis Vanags.

As reported, Maxima Latvija turned over EUR 723.054 mln in 2017, up 4.2% against a year before, while the retailer’s profit grew 93.9% to EUR 23.224 mln.

Maxima Latvija is fully owned by Dutch-registered company Lincoln Land Erste B.V, according to At present there are 165 Maxima stores across Latvia: five Maxima Express stores, 129 Maxima X stores, 24 Maxima XX supermarkets and seven Maxima XXX hypermarkets.

Search site