Baiba Zauere was approved as the new member of the Management Board by the shareholder’s meeting of Latvijas vēja parki SIA. Her term of office starts 7 August this year. Whereas, until 6 August, Member of the Management Board Zane Norenberga continues her work. Chair of the Management Board Ilvija Boreiko continues to serve on the Management Board until further decisions of the Nomination Commission and the shareholder’s meeting.

Independence from external energy resources is one of the key pillars of national security and sovereignty for Latvia and all Baltic states. Latvijas vēja parki SIA must contribute to the achievement of national climate targets and strengthen energy security. The purpose of the joint venture is to design, build and operate wind farms located on the land of Latvian state forests, promoting the flexibility of power generation and the country's energy independence. The projects will be implemented according to market principles, without any state financial support mechanisms.

The competition for the positions of chair of the Management Board and members of the Management Board of Latvijas vēja parki SIA was held in three rounds. The selection and evaluation process was carried out by the Nomination Commission in cooperation with the executive search firm Pedersen & Partners SIA. 42 applications were initially received for the post of member of the Management Board. At the shareholders meeting, the Nomination Commission nominated the two top-rated candidates for the post of member of the Management Board for decision making. The Nomination Commission has not yet completed its work; evaluation of candidates for the chair of the Management Board continues.

Considering the set tasks of the joint venture, as well as the requirements determined for the candidates, Baiba Zauere has been selected as a member of the Management Board of Latvijas vēja parki SIA.

From 2017, Baiba Zauere was the lawyer of the Rail Baltica pan-Baltic joint venture, RB Rail AS, from 2020 head of Legal, responsible for the development of the legal department of the joint venture, ensuring the legality of transactions carried out by the joint venture, drafting and implementing cross-border public procurement contracts, etc. Baiba Zauere previously practiced as an attorney-at-law at the law firms Deloitte Legal, Sorainen, and Glimstedt and Partners.

The joint venture of Latvenergo AS and Latvijas valsts meži AS – Latvijas vēja parki SIA – was established on 22 July 2022 to develop wind parks in order to promote Latvia's progress towards energy independence and climate neutrality.

Latvijas vēja parki SIA is a national capital company that takes responsibility towards national resources, environmental protection requirements and the local population by developing such wind energy projects that strengthen the country's competitiveness, increase green electricity generation and do not require government subsidies. The money earned will be kept by the state and local residents without intermediaries. The main challenge for the company and its management is to install and operate the wind-powered generator capacity of around 800 MW on state-owned forest land.

The operating principles of the company dictate the environmentally and socially responsible development of wind farms, working for the interests of the population of Latvia.

Additional information:
Jānis Irbe
Group Treasurer
Phone: +371 29 453 897
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), Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation) and Latvijas vēja parki SIA (development of wind parks in Latvia). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.