RIGA - It is important that Latvian and Estonian Elwind wind parks start operating at the same time, said Latvian Investments and Development Agency (LIAA) representative Laura Strovalde in an interview with LETA.
She underscored that LIAA is not a wind park developer, but it is the task of the agency to prepare the field that is attractive for investors, allowing to win the highest price at the auction. "It is our main goal," she said.
She said that all companies who meet the criteria will be able to apply for the auction for construction of wind parks. The criteria will be clear when the Economics Ministry develops the umbrella regulations on sea wind parks.
The auction is planned for 2026. The date, however, depends on the time when Estonia has completed evaluation of impact on the environment.
"The goal is that both auctions are as possible simultaneous. It is important that both parks start operating at the same time because they will be linked," she said.
As reported, plans are for the Elwind project to add a total of 700-1,000 megawatts of offshore generation capacity in the maritime area of Estonia and Latvia. After the states have completed necessary preparatory work, auctions will be held for superficies licenses.
With the project, Estonia and Latvia want to contribute to a faster green transition by promoting the supply of additional amounts of renewable energy to the market. This, in turn, will help to stabilize the price of electricity and make it more affordable in the entire region, increase the security of supply of the countries and strengthen energy security.