Latvia’s Latvenergo acquires 124MW wind farm in Lithuania

28 May 2024
Latvia’s Latvenergo acquires 124MW wind farm in Lithuania

Latvian state-owned electric utility company Latvenergo has completed the purchase of a 124MW Telšiai wind farm in Lithuania.

The wind farm, previously owned by Utilitas Wind, a wind developer in the Baltics, is expected to commence energy production in the first quarter of 2026.

The wind farm will feature 20 6.2MW turbines to be supplied and installed by Vestas. Merko statyba UAB, a construction services provider, is responsible for building the necessary infrastructure, including connection facilities, access roads, cable networks, and turbine foundations.

Utilitas Wind will oversee project management. The total estimated cost for constructing the wind farm is approximately €200m.

Upon completion, the Telšiai wind farm is projected to produce sufficient electricity to power over 125,000 households annually.

Latvenergo management board chairman Mārtiņš Čakste said: “I am delighted to conclude this international transaction now, as the project is not only very ambitious in terms of the capacity of the farm to be built but it will also give us an advantage in terms of commercial start-up – in less than 24 months we will be able to run modern and efficient green energy facilities that will supply our well-connected domestic market.

“Thanks to the team of Latvenergo and professionals from Utilitas, as well as to our shareholder – the Ministry of Economics – for their support. By promoting energy independence and greening of electricity production, the Lithuanian state is pursuing a very active RES development policy – it is a pleasure to be a part of this policy.”

This development aligns with Latvenergo’s objective to expand its renewable energy resources geographically, both within and beyond the Baltic states of Latvia, Lithuania, and Estonia.

Utilitas Wind CEO Rene Tammist said: “We are very pleased to start this cooperation with Latvenergo on this project to get the new significant wind capacity up and running. We have already started the construction works and plan to have the wind farm ready for the production of electricity by the first quarter of 2026.

“The need for new renewable energy capacities is significant across the region. Wind energy has great potential in the Baltic region and is equally important for achieving climate goals and ensuring energy security.”