To promote Latvia's progress towards energy independence and climate neutrality, SIA “Latvijas vēja parki” was established on 22 July 2022 – a joint venture between a/s “Latvenergo” and a/s “Latvijas valsts meži” (LVM), tasked with building high-capacity wind farms with a total capacity of at least 800 megawatts (MW) by 2030, while simultaneously reducing GHG emissions, preserving biodiversity, and developing a circular economy.

The new company will develop several high-capacity wind farms in Latvia with a total capacity of at least 800 MW, which is equivalent to almost the same electrical power as is currently generated at Latvia's largest hydroelectric power plant (HPP) – Pļaviņas HPP. The wind farms and their necessary infrastructure will be designed, built, and operated on state-owned land managed by LVM. The share capital of SIA “Latvijas vēja parki” at the time of establishment is 2 million EUR, with 80% of the joint venture's shares held by a/s “Latvenergo” and 20% held by LVM. The company's interim management consists of Chairperson of the Board Ilvija Boreiko and Board Member Zane Norenberga.
Photograph by Mike Blake, Reuters used