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Estonia’s Nelja Energia to invest half a billion euros into wind farms in Latvia

Estonian news - etea August 22, 2012

Baltic News Service, 22.08.2012

Estonia’s Nelja Energia will open its representation in Latvia and is planning to build wind farms at the capacity of 200 megawatts in that country, investing nearly half a billion euros into the project.

Kalle Kiigske, member of the board of the renewable energy company, Nelja Energia AS, told BNS that the big minus of operating in Latvia was a poorly developed system of subsidies until the present. Daniels Pavluts, the Latvian economics minister who entered into office after the extraordinary elections is more open for cooperation and Kiigkse said that the company could hope to successfully cooperate with Latvia in the future.

Of the Baltic countries Kiigske considers cooperation with Lithuania the best and three wind farms have already been built their.

Nelja Energia is currently looking for a CEO for the Latvian representation.

Last year Nelja Energia operated with 12 wind farms with a total capacity of 154 megawatts. The wind farms produced 311 gigawatt-hours of electricity.

 

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