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Founding event for joint venture of Latvenergo and Latvijas Valsts Mezi to take place next week


LETA Latvian News Agency  

 

    RIGA, Aug 6 (LETA) - A founding event for a joint venture of Latvenergo energy company and Latvijas Valsts Mezi (LVM, Latvian State Forests) that will be developing wind farms in all Latvia is due to take place at the National Library of Latvia next Monday, LETA was told at Latvenergo.

    The event will be attended by Prime Minister Krisjanis Karins (New Unity), Economics Minister Ilze Indriksone (National Alliance), Agriculture Minister Kaspars Gerhards (National Alliance) Latvenergo CEO Martins Cakste, LVM CEO Peteris Putnins and Latvenergo board member Kaspars Cikmacs.

    Latvijas Veja Parki (Latvian Wind Farms), the joint venture of Latvenergo and LVM, was added to the Register of Enterprises on July 22.

    The company's share capital is EUR 2 million, with Latvenergo holding 80 percent and LVM 20 percent in the joint venture.

    Latvijas Veja Parki intends to develop new strategic wind farm projects across Latvia to achieve an 800 megawatt capacity, which would be nearly equivalent to the electricity output of Latvia's largest hydroelectric power plant on the Daugava River in Plavinas.

    s reported, the government on June 21 decided to give permission to Latvenergo energy company and LVM state forest manager to establish a joint venture for building large wind farms to strengthen Latvia's energy security and independence.

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