A seminar on the acquisition of wind, solar and hybrid power plants was held
June 30, 2023
In May this year, Latvenergo AS informed the public that it will acquire wind, solar and hybrid power plants through mergers and acquisitions (M&A) activities, as part of the implementation of Latvenergo Group’s medium-term operational strategy and the green energy generation targets set out therein. PricewaterhouseCoopers SIA was entrusted with the selection and evaluation of the projects and will act as an independent consultant to ensure the protection of confidential information and the efficient management of the process.
Latvenergo both develops its own generation capacity by developing projects from scratch and by acquiring wind, solar and hybrid power projects from operators, both ongoing and completed. Due to the high level of interest from applicants in the application and project selection process, PricewaterhouseCoopers SIA, in cooperation with Latvenergo, on 30 June organised a remote information seminar for project developers, owners and their representatives.
The event was attended by Uģis Sarma, Corporate Strategy Director, Latvenergo AS, Māris Butāns, Roberts Bērziņš and Arnis Priediņš, representatives of PricewaterhouseCoopers SIA.
The organisers explained the main requirements and procedures of the public call for the tender process and answered the questions received during the seminar and in advance about participation in the selection process. More than 40 wind, solar and hybrid power plant developers, representing both early-stage and production projects, participated in the seminar.
Uģis Sarma, Corporate Strategy Director, Latvenergo AS: “Our company has very ambitious targets for generation diversification. This is for three reasons: it is no secret that there is room for new capacity in the region, the green course or climate neutrality requirements in the European Union are relevant, and now it is also a matter of national security – we need to ensure the viability of the country and infrastructure.”
After 31 July 2023, when the deadline for applications closes, PricewaterhouseCoopers SIA is expected to provide Latvenergo with an assessment of the most suitable projects and developers with whom Latvenergo will enter into in-depth negotiations for the acquisition of wind, solar and hybrid power plants. PricewaterhouseCoopers SIA will inform the tenderers of the results on 15 August. During the event, many questions were also received from interested parties on the evaluation criteria, the capacities required and their volumes, what the tender evaluation criteria will be, whether and how uniform criteria will be ensured in the evaluation of the projects, etc. The participants of the seminar answered the questions they had received and PricewaterhouseCoopers SIA invited everyone to also ask questions after the seminar.
A live webcast of the seminar will be available on Latvenergo's YouTube account until 31 July: