Danish wind energy developer Eurowind Energy, together with Germany’s Neue Energien, plans to invest around EUR 600 million in wind farm projects in Latvia by 2032, Eurowind Energy representatives informed LETA.

The companies plan to build five wind farms in Latvia, each equipped with battery energy storage systems (BESS). The total planned capacity of the wind farms is around 300 megawatts (MW). The projects are planned in Valka, Saldus, Bauska and other municipalities. In-depth studies are currently underway, and an Environmental Impact Assessment (EIA) has been launched.

Arturs Toms Plešs, Country Manager of Latvia at Eurowind Energy, said that the company entered the Latvian market at a time when many foreign investors were deterred by regional risks, but he believes that now is the right moment to invest. Latvia has significant potential to generate green, affordable, and self-produced electricity, he noted.

At the same time, Plešs expressed concerns about the unstable legislative environment, especially in light of recent announcements by the Climate and Energy Ministry. Plešs, who previously served as Latvia’s minister of environmental protection and regional development (For Development of Latvia), pointed out:

“Quite recently, serious work was done to develop a long-term energy strategy for Latvia, but two months after its approval, steps are being taken in a completely different direction – which is hard to understand.”

He warned that this situation could force the company to reconsider its investment strategy in Latvia. However, he stressed that renewable energy is and will remain the foundation of the energy sector.

Eurowind Energy is an international renewable electricity producer developing large-scale wind, solar, and other green energy projects. Founded in 2006, the company currently operates in 17 countries worldwide. Its renewable energy assets under management total 1,300 MW, with a project pipeline exceeding 58 GW, the company said.

In Latvia, the company operates under the name EWE Neue Energien.

According to information from Firmas.lv, EWE Neue Energien was incorporated in 2022 with a share capital of EUR 2,800. In 2024, the company reported a turnover of EUR 5,903 and a loss of EUR 685,109. EWE Neue Energien is jointly owned in equal parts by Eurowind Energy of Denmark and Neue Energien Ingenieurplanungen of Germany.

Source: BNS

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