The state-owned electric utility Latvenergo and the renewable energy business RWE will jointly develop, build, and manage offshore wind projects in Latvia.
The joint venture brings together a wealth of experience and knowledge in offshore wind development, effective project delivery, secure operation, and in-depth understanding of the Latvian energy market and power supply in the Baltic States. The two firms have formed a strong relationship to assist the development of offshore wind. This is in order to increase Latvia’s energy independence.
By 2030, Latvia wants to boost its wind power capacity from the current level of about 70 megawatts (MW) to 800 MW. The statistics were revealed in the National Energy and Climate Plan.
Additionally, the nation intends to launch the “ELWIND” tender, a 1 GW offshore cross-border project in association with Estonia.
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Remarks on the offshore wind projects in Latvia
Latvia’s Minister of Economics, Ilze Indriksone stated, “The sea has a special value for us. In the past, we have typically considered it as an environmental resource, a recreational resource, and a chance to appreciate nature.
Although the meaning has evolved, it still exists. Because of this, the participation of state-owned businesses in research, development, and partnerships with other nations is highly encouraged. Reaching research agreements helps us go closer to achieving energy security and independence.”
The Baltic Sea wind off Latvia’s shores is a national treasure with untapped potential. This is according to Mārtiņš Čakste, Chairman of the Management Board and CEO of Latvenergo. This will surely improve Latvia’s energy independence in the future and make it possible to sell electricity to the expanding European electricity market.
Offshore wind is essential in order to meet the rising demand for renewable energy in Europe. Additionally, it will support local businesses, and create new, secure jobs. This is according to Sven Utermöhlen, CEO of RWE Renewables‘ Offshore Wind division. “We are committed to helping our partner Latvenergo realize Latvia’s offshore wind objectives. This means cooperation is in hand with the local communities and supply chain”
