RWE and Latvenergo have joined forces to develop, construct and operate offshore wind projects off the Latvian coast. A Memorandum of Understanding has been signed by the two companies, with the aim of supporting the build-out of offshore wind in order to strengthen Latvia’s energy independence. According to its National Energy and Climate Plan, Latvia aims to increase its wind capacity from approximately 70 MW today to 800 MW by 2030. In addition, the country plans to open the ‘ELWIND’ tender, a 1 GW cross-border offshore project in collaboration with Estonia.
Baltic Sea wind off Latvia’s shores is regarded as a national resource with untapped potential. Going forward, it will increase the energy independence of Latvia and neighbouring countries, and will enable the export of electricity to the growing European electricity market. Latvenergo has 80 years of expertise in renewable energy, as demonstrated by its generation portfolio of hydropower plants and onshore wind and solar farm projects. By effectively harnessing the power of the Daugava River, coupled with solar energy, as well as Latvia’s onshore and offshore wind, the country expects to achieve its own independent electricity in all types of weather conditions, and at lower prices.”
Founded in 1939, state-owned Latvenergo is one of the greenest electricity generators in Europe – approximately half of its electricity is generated in three large-scale hydropower plants. They are complemented by modernised combined heat and power plants fired by natural gas.