AS Latvenergo has acquired shares in SIA Laflora Energy to build a wind power plant with a total capacity of 108.8 MW in the former peat extraction area of Kaigu Bog in Līvbērze County and to start electricity production in 2026.
The expected construction cost of the wind farm is estimated at EUR 185 million. Once commissioned, the wind farm is expected to generate more than 350 GWh of electricity annually, or about 5% of Latvia’s total annual electricity consumption.
The project will install sixteen wind turbines with a maximum height of 266.5 metres, with the turbine towers constructed using an innovative technology – a combination of reinforced concrete and metal. In addition, the reinforced concrete parts of the towers will be manufactured locally in Latvia. Significantly, this technology reduces the carbon footprint by almost 40% compared to steel towers of the same length.
TEGOS (formerly TGS Baltic) team worked on legal due diligence, drafting transaction documents and supported the client in the negotiation process. The team was led by partner and head of the Energy Practice Group Agnese Hartpenga, with the participation of associates Elīna Lesničenoka, Evija Ābele and Karīna Narņicka-Čumakova, attorney at law Jānis Bite, legal assistant Samanta Koha and junior associate Anete Elīza Neretniece.
Latvenergo Group is one of the largest energy service providers in the Baltic States, engaged in the generation and sale of electricity and heat, and the distribution of electricity. The Group develops new green energy generation capacities in wind and solar energy in the Baltic States and is a leader in electromobility services. All shares in AS Latvenergo are owned by the Latvian State.
For more information on the transaction please refer to: Deal of Latvian companies to result in state-of-the-art wind power plants – Latvenergo
