Latvia's Latvenergo buys 124-MW wind project in Lithuania

Latvian state-owned utility Latvenergo AS has acquired a 124-MW wind power project in Lithuania, it said on Friday.

Utilitas Wind, part of Estonian renewable power and heat producer Utilitas, sold the development to Latvenergo for an undisclosed price.

The wind farm, named Telsiai, will be situated in the namesake county in Lithuania. Denmark’s Vestas Wind Systems A/S (CPH:VWS) will supply and install 20 units of its 6.2-MW wind turbines for this project.

Latvenergo expects the wind farm construction to cost around EUR 200 million (USD 217.1m), it said.

Utilitas Wind will stay on board as the project manager. The construction of the connection, access roads, cabling, turbine foundations and the assembly area has been entrusted to Merko statyba UAB.

The Telsiai wind farm is expected to commence operation in the first quarter of 2026.

The acquisition strengthens Latvenergo's competitive position in the Lithuanian market. Latvenergo’s strategy is to build a diversified portfolio of renewables capacity across its home market, consisting of Latvia, Lithuania, and Estonia, as well as expand beyond the borders of these countries, the company said.

(EUR 1.0 = USD 1.085)

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