Energy leaders Latvenergo and RWE team up for offshore wind development in Latvia

  • 2022-09-16

- Partners aim to jointly develop, construct and operate offshore wind farms

- Latvenergo provides its deep understanding of the Latvian energy market and regulations as well as its experience in power supply

- RWE contributes its technical expertise from a more than 20 year track record in offshore wind

Latvenergo, one of the largest energy service providers in the Baltic States, and RWE, a global leading renewable energy player, have joined forces to develop, construct and operate offshore wind projects off the Latvian coast.

Today a corresponding Memorandum of Understanding (MoU) was signed between the two companies, confirming their commitment and readiness to implement ambitious offshore wind projects. The equal partnership represents a strong combination of experience and expertise in offshore wind development, efficient project execution and safe operation as well as extensive knowledge of the Latvian energy market and power supply in the Baltic States. 

Ilze Indriksone, Minister of Economics of the Republic of Latvia: “The sea has a special meaning for us, previously we have generally seen it as an environmental resource, a recreational resource and an opportunity to enjoy nature. Today, the meaning has changed, but not gone. That is why the involvement of state capital companies is more than welcome in research, development and in cooperation with international partners. By concluding agreements in research, our goal of reaching energy security and energy independence is sped up.”

Mārtiņš Čakste, Chairman of the Management Board and CEO of Latvenergo: “The Baltic Sea wind in Latvia's offshore area is a national treasure with untapped potential, which in the near future will undoubtedly increase the energy independence of Latvia and neighbouring countries, as well as enable the export of electricity to the growing European electricity market. Latvenergo has 80 years of expertise in renewable energy, as demonstrated by our generation portfolio of hydropower plants and onshore wind and solar farm projects. By effectively harnessing the power of both the Daugava River and the sun, as well as Latvia's onshore and offshore wind, Latvia will have its own independent electricity in all types of weather conditions and at lower electricity prices.”

Sven Utermöhlen, CEO Wind Offshore of RWE Renewables: “Offshore wind is key for meeting the increasing demand for renewable power in Europe, supporting local industries and creating new, future-proof jobs. Together with our partner Latvenergo we are committed to contributing towards delivering Latvia’s offshore wind ambitions – hand in hand with the local communities and supply chain. We bring more than 20 years of experience and technical expertise in the offshore industry to this partnership.”

According to Latvenergo's strategy for 2030, Latvenergo intends to increase the capacity of wind and solar power plants to 2300 MW. In addition, the country has envisaged to open the ”ELWIND” tender, a 1 gigawatt (GW) cross-border offshore project together with Estonia.

 About RWE:

RWE is a leading global player in renewables and No. 2 worldwide in offshore wind. RWE operates 18 offshore wind farms in five countries – including Kårehamn (48 MW) off the Swedish coast, the Danish offshore wind farm Rødsand 2 (207 MW, RWE share: 20%) and Arkona, with 385 MW one of the largest offshore wind farms in the German Baltic Sea (RWE share: 50%). In addition RWE is well advanced in the development of its 350-MW F.E.W. Baltic II wind farm off the Polish coast and is progressing with the development of the 1.6-GW Södra Victoria project off the Swedish coast. By 2030, RWE intends to grow its offshore wind capacity from currently 3 GW to 8 GW (this capacity represents RWE’s share only). Globally, RWE is driving an offshore wind development pipeline of 10 GW with secured offshore rights. The focus for further growth is on North America, the Asia Pacific region and attractive markets in Europe in particular – including the Baltic States.

About Latvenergo:

Founded in 1939, Latvenergo is engaged in the generation and trade of electricity and thermal energy, and distribution of electricity. The state-owned company is one of the greenest electricity generators in Europe - approximately half of the electricity is generated in three large-scale hydropower plants. They are complemented by modernized combined heat and power plants, where electricity is obtained from natural gas. Latvenergo develops new green wind and solar energy generation capacities and is also a leader in the field of electromobility services.