AS VIRŠI-A to develop charging network for electrical vehicles that will include 20 service stations in Latvia
The home-grown business engaged in fuel sales and alternative energy resources, AS VIRŠI-A (hereinafter — “Virši”) will significantly expand charging opportunities for owners of electrical vehicles, providing these services at over 20 “Virši” service stations in the territory of Latvia. Investments made in the implementation of this extensive project amount to approximately EUR 2m, and approximately half of it will be covered using support from the European Union’s Alternative Fuels Infrastructure Facility (EU AFIF).
In September 2022, a contract was signed between “Virši” and the European Climate, Infrastructure and Environment Executive Agency which became the first AFIF support contract in the European Union. Pursuant to the contract, 28 charging points will be installed at 20 “Virši” fuel stations with at least 150 kW charging power. Furthermore, 8 out of 20 stations will provide 870 A charging for the distribution system operator. The project is aimed to be completed by the 2nd quarter of 2024.
“The development of electrical charging infrastructure in Latvia is another step towards the realisation of the “Virši” alternative fuel offering that we have set as our strategic development goal. To be able to enforce this plan, we have used part of our capital raised at the IPO (initial public offering), as well as the EU support for the expansion of alternative fuel infrastructure. Developing a modern and convenient charging network for electrical vehicles, we plan to provide over 20 new charging points in all regions of Latvia over the period of two years. It will not only facilitate availability of this sustainable type of energy, but also the interest of clients to buy more environmentally friendly vehicles,” emphasised Jānis Vība, Chairman of the Board of “Virši”.
Currently, the fuel station network of “Virši” provides charging points at 10 service stations, 9 of these are provided in cooperation with VAS “Ceļu satiksmes drošības direkcija”, and the tenth “Virši” brand charging point opened in the first half of 2022 in Krustpils, Jēkabpils Municipality. It enables the charging of an electrical vehicle with 80 kW or 40 kW.
“The implementation of this project will allow us to create a large charging point network that will provide at least a 150 kW charging speed, and for 8 stations we will install more powerful connections for the distribution system operator network that will allow for the charging of trucks at these stations in the future. The approved investments will be the basis of the “Virši” charging network and we will develop charging services within our service station network, as well as in cooperation with our partners and clients outside of these locations”, explained Jānis Bethers, Head of Business Development of “Virši”.
Additional information about the locations of service stations and the range of products and services is available on the “Virši” website: https://www.virsi.lv/lv/uzpildes-stacijas.
The project is co-funded by the European Union. The author is responsible for the opinions and points of view expressed in the press release and it does not necessarily reflect the opinions of the European Union nor Alternative Fuels Infrastructure Facility (AFIF). Neither the European Union nor the authority that has provided the co-funding is responsible for the opinions expressed in the news release.
The shares of AS VIRŠI-A are admitted to trading on Nasdaq Baltic First North Market.
The certified adviser for AS VIRŠI-A is AS LHV Pank.
AS VIRŠI-A is the largest and the most rapidly growing local business engaged in the sale of fuel and alternative energy resources with 27 years’ experience in the Latvian fuel market. Since 2021, AS VIRŠI-A offers electricity to the corporate segment. Further, the company sells electricity produced in Latvia.
Currently, there are 69 service stations in the network of AS VIRŠI-A that employ over 690 employees across all Latvian regions. On 11 November 2021 AS VIRŠI-A shares were admitted to trading on the alternative market First North of Nasdaq Riga stock exchange.
Contact information:
AS VIRŠI-A
Undīne Priekule
E-mail: undine.priekule@virsi.lv
Phone: +371 26141219
Certified adviser:
AS LHV Pank
Contact person: Ivars Bergmanis
E-mail: ivars.bergmanis@lhv.ee
Phone: +372 680 2720
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