Riga — German energy group RWE and Latvian electric utility company Latvenergo signed an agreement in the Latvian capital Riga on Friday to develop, build and operate wind farms off the coast of the EU and NATO country.
The partnership is intended to support the expansion of offshore wind energy in Latvia and strengthen the energy independence of the country bordering Russia, the two companies said.
The Latvian government announced in August that it would invest about €1 billion ($998 million) in the development of wind farms. This is expected to increase generation capacity from the estimated 70 megawatts currently to 800 megawatts by 2030.
For these purposes Latvenergo has formed a joint venture with the Latvian State Forest Service. The country is also planning a joint offshore project with neighbouring Estonia.
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