The partners intend to jointly develop, build and operate offshore wind farms. Latvenergo offers deep knowledge of the Latvian energy market and regulations, as well as experience in electricity supply, while RWE brings its technical expertise from 20 years of experience in offshore wind power.

RWE, a global leader in renewable energy sources, and Latvenergo, one of the largest energy suppliers in the Baltics, have joined forces to develop, build and operate offshore wind projects off the coast of Latvia. On August 16, the two companies signed a memorandum of understanding (MoU). The partnership represents a strong combination of experience and expertise in efficient project implementation, safe project operation, and extensive knowledge of the Latvian energy market and energy supply in the Baltics.

The goal is to promote the development of offshore wind energy to strengthen Latvia’s energy independence. In accordance with the National Energy and Climate Plan, Latvia intends to increase its wind power capacity from about 70 MW today to 800 MW by 2030. In addition, the country plans to open a tender for “ELWIND,” a 1 GW cross-border maritime project in cooperation with Estonia.

Latvian Minister of Economics, Ilze Indriksone, states: “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 it is not gone. That is why the involvement of state-owned companies is more than welcome in research, development and in cooperation with international partners. Concluding agreements in research accelerates our goal of reaching energy security and energy independence.”

Mārtiņš Čakste, Chairman of the Management Board and CEO of Latvenergo, says: “The Baltic Sea wind off Latvia’s shores is a national treasure with untapped potential. Going forward, this will undoubtedly increase the energy independence of Latvia and neighbouring countries, and will 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, the country will have its own independent electricity in all types of weather conditions and at lower prices.”

Sven Utermöhlen, CEO Offshore Wind of RWE Renewables, says: “Offshore wind is key to 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.”