Investor Presentaiton
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LATVIA IS INTEGRAL PART OF SINGLE EU POWER MARKET. NO ELECTRICITY IMPORTED
FROM RUSSIA
Latvia has diversified power supply and has strong focus on energy security and renewables
Latvia can operate independently from Russia electricity
supply
From May 22, 2022 there are no electricity imports from Russia,
just parallel synchronisation and system stability operations
Large amount of electricity generated in hydropower plants, and
gas reserves provided by «Latvenergo» can be used for flexible
and dispatchable production of electricity and heat in power
plants to balance growing capacities of renewable energy sources
The Baltic region is connected to European power system with
four powerful interconnections. In case of sudden disconnection
from BRELL¹ system, emergency synchronization would be
immediately ensured
Latvia energy mix 2021
1
■Solids
21
10
41
33
■Natural gas
Renewables and
biofuels*
■Oil and petroleum
products
Other
* As per operational data, in 2022
Renewables and biofuels increased to
43.45%, verified statistics will be available on
Source: Eurostat
Latvia gross final energy
consumption in 2021
42%
Renewables
58%
Other
Latvia is among the greenest electricity producers in EU -
64% of actual electricity was generated from renewables in 20212
☑
Rm
3rd highest overall share of gross final energy consumption
from renewable sources among EU countries in 20213
6th largest share of renewable electricity production among EU
countries in 20214
¹BRELL: Belarus, Russia, Estonia, Latvia and Lithuania
2 Source: https://energy.ec.europa.eu/system/files/2022-10/LV_2022_Energy_Snapshot.pdf
3Source: https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Renewable energy_statistics
4 Source: https://ec.europa.eu/eurostat/databrowser/view/NRG_IND_REN/default/table?lang=en
Way forward
1990: focus imported electricity and on gas as a main source of electricity and
heat generation
2020: diversification among hydropower, wind, solar, biomass and other
renewables, the share of all together reaching 42% of gross final energy
consumption in Latvia
2050: continue to use hydropower, wind, solar, biomass, but fossils are
replaced with other renewable (potentially including hydrogen)
Full synchronization of Baltic power system with European Continental Network
by 2025. Full independence from Russia
Several large investment projects planned, for example:
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ELWIND offshore wind farm project between Estonia and Latvia (planned to
be implemented by 2030)
Latvenergo and Latvijas valsts meži (state-owned land managed) in a joint
onshore wind parks project (planned to be implemented by 2030)View entire presentation