Riga, Dec 13 (LETA) - At least 80 Elektrum Drive high-capacity charging stations are planned to be built by the end of 2026, of which 55 will be in Latvia and 25 - in Estonia, representatives of Latvenergo informed LETA news agency.

The project has attracted EU cofunding of EUR 10.75 million, of which EUR 8.05 million is earmarked for the construction of stations in Latvia and EUR 2.7 million in Estonia.

The stations will have a capacity of 300 kilowatts (kW) and will also be able to charge electric trucks.

At the end of November, the first Elektrum Drive high-capacity EV charging stations on the European transport network (TEN-T) in Latvia were opened in Marupe, Jurmala, Pure, Koknese and Liepaja.

The first Elektrum Drive high-capacity stations in Latvia were opened in cooperation with the food retail chain Elvi

The company said that the aim of the project, co-funded by the European Union, is to provide reliable and publicly accessible charging infrastructure on TEN-T roads in Latvia and Estonia.

The project is part of Elektrum Drive's Baltic Charging Network Development Plan, which plans to have 1,500 public charging points by 2026 and 3,000 by 2030.

Latvenergo Group's turnover last year reached EUR 2.034 billion, an increase of 10.4 percent year-on-year, while the Group's profit rose by 90.8 percent to EUR 350.9 million.

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