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    Latvia to build more than $1 billion in wind farms

    August 8, 2022 - CE Noticias Financieras


      Latvia's state-owned power and energy generation company and forest resource management company launched a joint project Monday to build a wind farm with the capacity to generate 800 megawatts.

      Latvenergo, which manages hydroelectric and thermal power plants, has joined with Latvijas Valsts Mezi (Latvian State Forests or LVM) to form Latvijas Veja Parki (Latvian Wind Farms), Latvian Prime Minister Krisjanis Karins told a press briefing.

      Karins added that E1 billion is planned to be invested in the construction of wind farms, which would be one of the largest investments in the country's history.

      "This is a medium-term solution that will allow us to be completely independent in terms of energy supply and we will thus have to use less fossil resources," he said.

      He noted that the plans for the wind farm were conceived before the Russian invasion of Ukraine in February, but that the war endowed them with a special urgency.

      Once the project has been completed, Latvia could become an exporter of electricity and forget about Russia as a source of energy, the prime minister stressed.

      Economy Minister Ilze Indriksone said that, with a capacity of 800 megawatts, the wind farms could produce the equivalent of one-third of the country's total energy production.


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