Latest news with #Latvenergo
The Star
28-04-2025
- Business
- The Star
Baltic electricity prices jump 56 pct last week
RIGA, April 28 (Xinhua) -- Electricity prices in the Baltic bidding areas of the Nord Pool exchange surged by an average of 56 percent last week, compared to the previous week, LETA reported on Monday, citing Latvia's energy group Latvenergo. Last week, the electricity price jumped 46 percent to 94.9 euros (108 U.S. dollars) per MWh in Latvia, 48 percent to 94.55 euros per MWh in Lithuania and 78 percent to 95.01 euros per MWh in Estonia. According to Latvenergo, electricity prices rose in nearly all Nord Pool bidding areas last week as the system's average price hit 53.24 euros per MWh, a 2.4-times increase week-on-week. The price hikes in the Baltic countries were caused primarily by a 32 percent drop in wind power generation. In addition, electricity imports to the Baltics dropped by 6 percent, said Latvenergo. Total electricity consumption in the Baltics rose by 2 percent week-on-week to 462 GWh. (1 euro = 1.14 U.S. dollar)
Yahoo
12-03-2025
- Business
- Yahoo
Latvenergo and H2Pro to advance green hydrogen commercialisation in Latvia
Latvenergo, Latvia's national electricity company, and H2Pro, an Israeli innovator in green hydrogen production, have signed a memorandum of understanding (MoU) to explore the potential of deploying H2Pro's decoupled electrolysis technology in Latvia. The MOU formalises a joint commitment to clean energy leadership and highlights the importance of technological innovation in advancing the use of green hydrogen as a key solution for industrial decarbonisation and energy security. In the first phase of the agreement, Latvenergo and H2Pro will assess the feasibility of testing an electrolyser in the 5MW range within Latvenergo's energy infrastructure and explore potential opportunities for commercial deployment in future projects. The collaboration aims to integrate H2Pro's technology with Latvia's renewable resources, such as wind and solar, ensuring the long-term economic sustainability of green hydrogen production. H2Pro CEO Tzahi Rodrig stated: 'Latvenergo presents an excellent environment for demonstrating the unique advantages of our technology. 'Latvenergo's diverse renewable energy portfolio provides the perfect testing ground to validate our electrolyser's high efficiency across multiple load scenarios, as well as our technology's seamless integration with renewables thanks to the hyper-flexibility of our system. 'This project is not just about proving technical feasibility — it's about laying the groundwork for a cost-effective, scaleable green hydrogen economy.' For Latvenergo, the partnership supports its broader commitment to clean energy innovation, energy independence and decarbonisation. Latvenergo CEO Dr Mārtiņš Čakste stated: 'Public support mechanisms like EU funding play an important role in enabling the green hydrogen transition. Nonetheless, we aim for the economics of any endeavour to stand on its own. 'That's why we are particularly interested in breakthrough technologies like H2Pro's decoupled electrolysis, which can reduce capital costs while maintaining high efficiency. Achieving a competitive cost structure is key to unlocking the full potential of green hydrogen in Europe.' "Latvenergo and H2Pro to advance green hydrogen commercialisation in Latvia" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
06-03-2025
- Business
- Yahoo
Latvia Construction Industry Report 2025: Output to Continue on an Upward Trajectory with AAGR of 3.7% Forecast for 2026-2029
Dublin, March 06, 2025 (GLOBE NEWSWIRE) -- The "Latvia Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (H1 2025)" report has been added to offering. Construction industry in Latvia to grow in real terms by 2.2% in 2025, following an annual fall of 6% in 2024, supported by investments in transport, electricity, and housing infrastructure projects. In November 2024, the Latvian state-owned energy company Latvenergo reported that construction of the EUR135 million ($143.6 million) 265MW solar park in Aizpute is scheduled for completion by 2025. Furthermore, in October 2024, Saeima, which is the parliament of the Republic of Latvia, approved the 2025 Budget, with an expenditure of EUR17.1 billion ($18.2 billion). The budget includes an allocation of EUR2.9 billion ($3.1 billion) for economic activity, including maintenance and renovation of national roads, public transport and Rail Baltica project, EUR1.9 billion ($2 billion) for the health sector, EUR1.2 billion ($1.3 billion) for the education sector, and EUR239.4 million ($254.6 million) for recreation, culture and religion, including for film industry, art and literature, cultural heritage, sports and other industry is further expected to register an average annual growth of 3.7% from 2026 to 2029, supported by investments in transport and renewable energy projects. The government aims to reduce greenhouse gas emissions by 65%, compared to 1990 levels, by 2030 and achieve climate neutrality by 2050. To support this target, Latvia is focusing on increasing the capacity of renewable energy across the country. In September 2024, Latvenergo acquired a Latvian energy company Laflora Energy to build a 108.8MW wind farm at a former peat mining site in Livberze, with construction cost estimated at EUR185 million ($196.7 million). The project will feature 16 wind turbines of 6.8MW each. Construction is scheduled to be completed by 2026Scope Historical (2020-2024) and forecast (2025-2029) valuations of the construction industry in Latvia, featuring details of key growth drivers. Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline. Listings of major projects, in addition to details of leading contractors and consultants Reasons to Buy Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies Assess market growth potential at a micro-level with over 600 time-series data forecasts Understand the latest industry and market trends Formulate and validate business strategies using the analyst's critical and actionable insight Assess business risks, including cost, regulatory and competitive pressures Evaluate competitive risk and success factors Key Topics Covered: 1 Executive Summary2 Construction Industry: At-a-Glance3 Latest news and developments4 Project analytics5 Construction Market Data6 Risk Profile7 AppendixFor more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
