Heat the olive oil in a large pot over medium heat. Add the chorizo slices and cook until they start to brown and release some fat, about 5 minutes.
Add the diced onion and minced garlic to the pot. Cook until the onion softens, about 4 minutes, stirring now and then.
Stir in the chopped chipotle peppers and cook for 1 minute to release their flavor.
Add the rinsed lentils and vegetable broth. Bring the mixture to a boil, then reduce to a simmer. Cover and cook for 25 minutes until the lentils are tender.
Stir in the black beans and cook for another 5 minutes to warm them through.
Remove the pot from the heat. Stir in the lime juice and season with salt and black pepper to taste.
Ladle the stew into bowls and top with chopped cilantro. Serve with lime wedges on the side.