Latvenergo acquires 124MW wind power project in Lithuania

Latvenergo buys Utilitas Wind's Telšiai wind project, aiming for 124MW of capacity by 2026 to boost production in the Baltic States.

Share:

Parc éolien pays Baltes.

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Latvenergo AS buys 100% of Utilitas Wind’s Telšiai wind power project, a deal that will enable the company to start producing wind power with a capacity of 124MW as early as the first quarter of 2026. Utilitas Wind will manage the construction of the wind farm until completion. The project involves the installation of 20 Vestas wind turbines, each rated at 6.2MW, capable of generating electricity for more than 125,000 homes each year. This acquisition represents a major step forward for Latvenergo in the execution of its strategy to diversify renewable energy production (RES) capacity across the domestic markets of the Baltic States, including Latvia, Lithuania and Estonia. Mārtiņš Čakste, Chairman of the Board of Directors of Latvenergo AS, expressed his satisfaction with this international transaction, emphasizing the importance of the project for the company’s competitive edge and the promotion of the region’s energy independence.

Economic and energy impact

The installation of the Telšiai wind farm will have a significant impact on the Baltic States’ electricity market, notably by reducing electricity prices for consumers. By producing green energy locally, Latvenergo is helping to reduce the Baltic States’ energy dependence on external suppliers. Viktors Valainis, Latvia’s Minister of Economy, said: “Strong regional transactions and export growth are vital to Latvia’s economy. This project is an excellent example of how the free movement of capital benefits the economy of the Baltic States.” Demand for new renewable energy capacity is growing across the region, and wind power plays a crucial role in achieving climate targets and energy security. Rene Tammist, CEO of Utilitas Wind, emphasized that construction of the wind farm had already begun, with the aim of producing electricity as early as the first quarter of 2026.

A project supported by key partners

The Telšiai project is supported by several strategic partners. The wind turbines will be manufactured, supplied and assembled by Vestas, while the associated infrastructure will be built by Merko statyba UAB, with project management provided by Utilitas Wind. Provisional construction costs for the wind farm are estimated at around €200 million. Latvenergo AS worked with PricewaterhouseCoopers Ltd to evaluate domestic wind project developers and their projects in Latvia, which led to the approach of several traders with highly developed wind projects in their portfolios. This collaboration underlines the importance of partnerships and rigorous assessments to ensure the success of large-scale renewable energy projects.

Prospects and future of green energy

Latvenergo Group’s strategy is to promote the competitiveness and growth of a carbon-neutral Latvia, and to increase the Group’s value in the Baltic market and beyond. This vision is supported by the development and supply of goods and services in the energy and related business value chains in a sustainable, innovative and economically sound manner. The acquisition of the Telšiai wind project is part of this broader strategy, aimed at adding 2,300MW of solar and wind power capacity in the Baltic States by 2030. In 2023, the proportion of renewable electricity generated by the Group reached 73%. Geographical expansion and diversification of renewable energy sources are essential to ensure the energy security and independence of the Baltic States.

German group BayWa r.e. has tasked Enercoop Bretagne with implementing a citizen investment scheme for its planned wind farm in Plouisy, aiming for shared governance and stronger local involvement.
US wind capacity fell in Q2, but developers anticipate a sharp increase by late 2025, with 46 GW of new capacity forecast by 2029 and a peak in 2027.
Engie has signed a renewable electricity supply contract with Apple covering 173 MW of installed capacity in Italy, with commissioning scheduled between 2026 and 2027.
Renova a soumis une méthodologie d’évaluation environnementale pour un projet éolien terrestre de 280MW à Higashidori, renforçant son positionnement sur les technologies renouvelables au Japon.
The joint venture between BP and JERA ends its offshore wind ambitions in the United States, citing an unfavourable economic and regulatory environment for continuing the development of the Beacon Wind project.
With a 300 MW partnership signed with Nadara, Q ENERGY exceeds 1 GW of wind repowering projects in France, reinforcing its position in a market driven by public investment dynamics.
The acquisition of Cosmic Group by FairWind consolidates its position in Australia and marks a strategic expansion into New Zealand and Japan.
Danish manufacturer Vestas has paused construction of its planned facility in Poland, originally set for 2026, citing weaker-than-expected European offshore wind demand.
British operator Equitix has been selected to take over transmission assets of the Neart na Gaoithe offshore wind farm, a £450mn ($547mn) project awarded under Ofgem’s tenth tender round.
Energiequelle GmbH has launched replacement work for old turbines at its Minden-Hahlen site, aiming for long-term structural maintenance with the installation of three new 200-metre machines.
GE Vernova will equip the Ialomiţa wind farm with 42 turbines of 6.1 MW, strengthening its presence in the European onshore wind sector with a 252 MW project in partnership with Greenvolt.
Eversource Energy posts a one-time $75mn charge linked to unforeseen costs in the Revolution Wind project, while tightening its 2025 earnings forecast.
The Renewables Infrastructure Group has signed a ten-year power purchase agreement with Virgin Media O2 for its onshore wind farms in the United Kingdom, ensuring price stability for both parties.
Eight local associations in Normandy and Hauts-de-France will receive a total of €120,000, financed by revenues from three RWE wind farms, to support public-impact projects in 2025.
CWP Europe formalised two major projects in Albania and Montenegro with backing from the European Commission, reinforcing the Balkans’ integration into the European energy market.
Elawan Energy secured two wind power projects totalling 92MW in Romania through a long-term public contract, strengthening its presence in the region with operations scheduled to begin in 2028.
A study conducted in the Gulf of Lion highlights the risk of collisions between migratory birds and floating wind turbine blades, as the region prepares to host 19 additional turbines by 2031.
Taaleri Energia’s SolarWind III Fund partners with Lords LB Asset Management to develop a 112 MW onshore wind project in Smiltene, scheduled for commissioning in early 2027.
The Dinawan Wind Farm project, first phase of a 1.3 GW energy hub, was selected in the fourth tender round of the Capacity Investment Scheme launched by the Australian Government.
RWE has completed construction of the Kail wind farm, comprising three turbines totalling 12.9 MW, marking its first commissioning in Rhineland-Palatinate.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.