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 with a total capacity of at least 800 MW 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.

Additional information:
Inese Vilcina
Financing and Investor Relations Manager
Phone: +371 29 110 880
E-mail: investor.relations@latvenergo.lv

www.latvenergo.lv

About Latvenergo

Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.

Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.