Latvenergo AS publishes an informative presentation about Latvenergo Group
June 20, 2023
Latvenergo AS has prepared and publishes an informative presentation about Latvenergo Group, providing current information about the organizational structure, strategy, operating segments and financial indicators of the Group.
In 2022, the Group reached one of its highest ever renewable electricity generation levels - 70%. The Group increased the number of electricity customers by 8%, doubling the number of customers outside Latvia.
Latvenergo operational strategy for 2022–2026, or the Growth Strategy, approved last year, naturally focuses on the use of renewable energy source capacities and the sustainability of the Group's operations. The Group has made a significant contribution to the implementation of its strategic objectives, which at the same time support the country's energy security. In 2022, the joint venture Latvijas vēja parki SIA between Latvenergo AS and Latvijas valsts meži AS was registered.
Targeted growth continues in new business lines that support the sustainability and climate neutrality goals defined in the Group's strategy.
As market demand for renewable energy increases, demand for solar panels has increased significantly and Latvenergo is one of the leading providers of this service in the Baltics. Expanding and diversifying the generation portfolio with green technologies, new solar park projects are being developed.
The Elektrum Drive electric vehicle charging network is growing ambitiously, reaching 195 ports at the end of the reporting year. The network is growing not only in quantity but also in quality – in July, Elektrum Drive opened the most powerful electric car charging station in the Baltic states in Riga with 11 charging ports, 4 of which are super-fast charging with a capacity of up to 150 kW.
70% of Latvenergo Group's investments in 2022 were invested in distribution network assets. The reconstruction of the Daugava HPPs hydropower units also continued.
In the reporting year, Latvenergo AS received the Diamond category from the Sustainability Index for the first time.t