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Interest of global energy players in the Latvian market is growing

November 11, 2022
Vēja enerģijas asociācija

The number of members of the Latvian Wind Energy Association (LWEA) is growing, as two energy giants join the Association – a multi-energy company that produces and markets energies on a global scale TotalEnergies and a renewable energy developer and fund Taaleri Energia. According to the Association, the large interest in the Latvian energy market affirms the significant potential of the energy sector.

“Two new global players have joined LWEA bringing their experience and equity to the Latvian market. It once more confirms Latvia’s untapped wind energy potential and signals the readiness of the private funds to be invested in the sector. The entry of each new multi-national energy company into our market creates healthy competition, which in a long run will benefit the electricity consumers,” says Toms Nāburgs, Head of the Latvian Wind Energy Association.

TotalEnergies is among the biggest multinational integrated energy and petroleum companies with an ambition to be a major player in the energy transition, maximising its renewable energy portfolio. The Company can help Latvia in reaching its target goal of more than 60% of renewables in the power mix by 2030 and becoming a self-sufficient and carbon neutral power economy.

“TotalEnergies is pleased to join the Latvian Wind Association, which offers a unique platform to share experiences with other market players and to contribute to the construction of a sustainable Latvian Offshore Wind market,” said Wilfried Vandersippe, Head of Northern and Eastern Europe Offshore Wind.

Taaleri Energia is a Helsinki based renewable energy developer and fund manager active across several European markets, including the Nordics and Baltics. With 45 professionals, Taaleri Energia is one of the largest and most capable dedicated renewables investment teams in Europe.

“Latvia is a fast-growing market with attractive fundamentals and Taaleri Energia is dedicating significant resources to this market. We believe that the Latvian Wind Energy Association will play an important role in enabling the sustainable growth of the wind energy sector. Its role in sharing market knowledge, fostering best practices and influencing the regulatory framework will be key. In addition, we look forward to contributing our international experience to the successful energy transition in Latvia,” said Taaleri Energia’s Managing Director, Kai Rintala.

With the new additions LWEA members have reached a total of 19.