A consortium led by US-based JPMorgan will advise on the Latvian state’s buyout of Swedish telecommunications group Telia’s shares in the Latvian telecommunications companies, Tet and Latvijas Mobilais Telefons (LMT), BNS reports. Under the agreement, the consortium, which besides JPMorgan includes A&O Shearman, Deloitte, Hardiman Telecommunications, TEGOS, and WALLESS, will advise Latvia’s state-owned energy group, Latvenergo,…
Power plants in Estonia generated 3,619 GWh of electricity from renewable sources in 2025, which was up 7% from 2024, according to transmission system operator Elering, ERR reports. Renewable energy accounted for 68% of total electricity production and covered 41% of total electricity consumption in 2025. Electricity production from wind power amounted to 1,324 GWh…
Estonia’s Foreign Minister, Margus Tsahkna, criticised President Alar Karis who suggested helping Hungary pay fines for cancelling oil contracts with Russia, ERR reported. Speaking in an interview with Finnish newspaper Ilta-Sanomat, Karis urged Hungary to end the contracts. Tsahkna insisted that it would be “inconceivable” for states that had freed themselves of dependence on Russian…
The United States will not reduce its troops presence in Lithuania, currently numbering over 1,000, Lithuanian Prime Minister Inga Ruginiene stated, BNS reports. Speaking in an interview with LRT, Ruginiene assured that there was no risk of the US cutting the number of troops in the country following the government’s decision to raise defence spending…
Only 4% of multi-apartment houses in need of renovation in Latvia have been renovated, according to the State Audit Office (LRVK), LSM reports. Latvia has over 39,500 multi-apartment houses, of which at least 26,600 need renovation. Martins Abolins, member of LRVK’s council, noted that more than half of all multi-apartment houses in the country were…
Estonia’s Ministry of Climate has drawn up a draft bill that would allow building nuclear power plants in the country, ERR reports. The law, which would come into force in January 2027, would task the Consumer Protection and Technical Regulatory Authority (TTJA) with regulation. Energy Minister Andres Sutt suggested that Estonia could eventually have small…
Estonia’s Ministry of Economic Affairs and Communications has announced a procurement tender for a consultant to plan a 600-MW nuclear power plant in the country, ERR reports. Under the contract, the winning bidder will help compile baseline planning guidelines and an environmental impact assessment plan for the project. The consultant will provide advice on site…
French risk management company Coface’s ranking of the 50 largest companies by turnover in the Baltic States in 2024 includes 28 companies in Lithuania, 15 in Estonia, and 7 in Latvia, LETA reports. The top five companies are all from Lithuania: retail holding group Vilniaus Prekyba with a consolidated turnover of EUR 8.02bn in 2024,…
Estonia hopes to receive around EUR 6bn more from than it pays to the EU’s budget for 2028-2034, Finance Minister Jürgen Ligi said, ERR reports. Under the current budget proposal, Estonia would contribute EUR 4.8bn to the EU’s next multiannual financial framework. Estonia’s national allocation would amount to EUR 6.5bn and funds awarded competitively to…
