In May 2021, in cooperation with the largest private group of energy companies in Latvia AJ Power the largest solar park was completed in Zemgale, Latvia. During the project, M.P. Socks Ltd. installed 708 solar panels with a total capacity of 262 kW on the ground and roof. Each year, the solar panels will generate 258,000 kWh of green energy, which represents approx. 32% of all power consumed annually by the plant.
During the next decade, M.P. Socks Ltd. will save EUR 239,000 on electricity costs, as well as prevent 729,6 tons of CO2 emissions.
M.P. Socks Ltd. is a Danish company that specializes in producing premium quality socks and tights. From 2009, M.P. Socks Ltd. moved its production from Denmark to Latvia to a place called Durbe in Smārde parish, creating more than 80 new jobs for locals. The facility features up to 160 fully automatic knitting machines with a total production capacity of approx. 6 million pairs of socks and tights annually. 76% of all M.P. Socks Ltd products are exported.
“Carbon footprint reduced by 72,9 tons per year. We put our greatest efforts to create a sustainable value chain and product journey. At our factory in Latvia, we follow all the European standards, that minimize the carbon footprint in our production. Transparency with our customers and stakeholders is always in the first place, because we believe honest business is good business.” Morten Bundgaard, the CEO of M.P. Socks Ltd.
“We are happy to provide cost-effective solutions to customers who share our values of environmental protection. This project is another example of the positive changes in Latvian business environment, spearheaded by Nordic companies. We are glad to have had the opportunity to further our mission of helping our customers implement the principles of circular economy and are determined to continue.” Roberts Samtiņš, the CEO of AJ Power Group.
“I am glad to see the investment in solar energy by Danish-owned company M.P. Socks. Denmark has set an example in the development of renewable sources of energy, both wind and solar. Renewable energy resources are highly competitive compared to traditional energy resources, and solar energy is an excellent opportunity to generate electricity for production facilities” Flemming Stender, Danish Ambassador to Latvia.
The system of solar panels installed has a pay-back period of 7 years. Thanks to the solar panels, the company will be able to save more than EUR 23,900 per year on electricity. Furthermore, the park does not require any additional investments, and there are practically no maintenance costs.
About M.P. Socks Ltd.: The main manufacturing facility of the Danish company is located in Durbe, Smārde parish. M.P. Socks Ltd. is an international company that boasts 80 years of experience in manufacturing socks. The company keeps alive age-old traditions by manufacturing top quality socks and stockings and continues to develop initiatives that support sustainable manufacturing.