about 3 years ago
The European Climate, Infrastructure and Environment Executive Agency (CINEA) has approved a EUR 18.7 million co-funding for ELWIND, a 1 GW Latvia-Estonia cross-border offshore wind project. The co-funding is said to enable research to determine the environmental impact of the Latvian-Estonian ELWIN
The construction of the wind park in both areas of Latvia and Estonia will provide an electricity capacity of at least 1,000 MW, which could boost the energy independence of Latvia and the Baltic region.
Laura Štrovalde, Deputy Director for Investment and Energy at LIAA said that the development of such projects will stabilise electricity prices in the region to around EUR 40 per MWh, which will provide additional advantages in attracting new investment.
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