RIGA, June 11 (LETA) - Latvenergo has acquired Pienava Wind wind farm project from Eolus, the company said in a statement to Nasdaq Riga stock exchange.

Latvenergo has not disclosed the sum of the deal.

The aggregate capacity of the wind park is 147 megawatts (MW), and power generation will be started in the first half of 2027.

The total planned construction investment in Pienava Wind is estimated to be approximately EUR 215 million. In addition to cheap and green energy, the wind farm will also contribute positively to the municipalities of Tukums and Dobele and to nearby residents, by making annual payments totaling more than EUR 350,000.

For Latvenergo, this is a significant transaction for the implementation of the strategy of the Group and, by early 2027, Latvenergo will be operating a total of approximately 1,150 MW of additional renewable energy source (RES) capacity, ensuring the growth of green and competitive energy in the region.

Eolus will continue development of the wind park until all the construction works are completed.

The Pienava Wind project will include the installation of 21 Nordex wind power plants with a total capacity of 147 megawatts (MW). Each wind power plant has a capacity of 7 MW.

The project also includes the construction of all the required infrastructure, i.e., access roads, installation platforms, high-voltage substations, and high-voltage and medium-voltage cable lines with fibre-optic communication networks. The project also includes the creation and rehabilitation of local and district roads required for the logistics of the wind farm.

For Latvenergo, this is a significant transaction for the implementation of the strategy of the Group.

As reported, Latvenergo turnover last year was EUR 1.704 billion and profit - EUR 273.65 million. The parent company's turnover was EUR 1.057 billion and profit - EUR 265.575 million.

"Latvenergo is engaged in the production and sale of electricity and heating, the sale of natural gas and the provision of electricity distribution services. "Latvenergo bonds are listed on the Nasdaq Riga debt market.

Eolus was established in 2011 with a share capital of EUR 6.027 million. The company is owned by Eolus Vind of Sweden.