A joint venture of Latvenergo AS and Latvijas valsts meži AS for the development of wind parks, Latvijas vēja parki SIA, is registered
July 26, 2022
On 22 July, a joint venture of Latvenergo AS and Latvijas valsts meži AS for the development of wind parks, Latvijas vēja parki SIA, was registered in the Commercial Register of the Register of Enterprises. The overall strategic objective of the joint venture is to implement strategically important wind park projects in order to achieve the objectives of the National Energy and Climate Plan 2021-2030 of Latvia and to continue progress towards climate neutrality, fostering energy independence.
The share capital of Latvijas vēja parki SIA is 2 million EUR. Latvenergo AS has an 80% equity stake in the newly established joint venture, while Latvijas valsts meži AS has a 20% equity stake. Director of Wind and Solar Park Development of Latvenergo AS Ilvija Boreiko, has been appointed as the Chairwoman of the Management Board of Latvijas vēja parki SIA, and Senior Competition Law Expert of Latvijas valsts meži AS Zane Norenberga, has been appointed as a Member of the Management Board.
The development of wind parks is in line with the objectives of the new strategy period of Latvenergo AS – to double electricity generation capacity in Latvenergo Group by 2030.