Latvia’s electricity transmission system operator, Augstsprieguma Tikls (AST), plans to invest EUR 509.8mn in the transmission network in 2024-2033, LSM reports. EU support will cover EUR 135.8mn of the total sum. AST will invest in the infrastructure and management technologies of the electricity transmission network to prepare for the synchronisation of the Latvian power grid…
Planned new wind energy projects in Latvia would be sufficient to generate electricity for more than half of the country, LSM reports. At the moment, wind energy accounts for just under 3% of Latvia’s electricity production, according to the Ministry of Climate and Energy. Lasma Livzeniece, executive director of the Latvian Wind Energy Association (LVEA),…
Latvia’s foreign trade turnover totalled EUR 17.93bn in the first five months of 2023, which was down EUR 718.4mn (3.9%) from the same period of 2022, according to provisional data from the Central Statistical Bureau, LSM reports. Exports totalled EUR 8.12bn, which was down EUR 281.2mn (3.3%) over a year. Imports totalled EUR 9.81bn, which…
The Nordic and Baltic countries and Poland expect Sweden’s membership of NATO to increase security in the Baltic Sea region, The Baltic Times reports. Swedish Prime Minister Ulf Kristersson said that Sweden was joining NATO as a “motivated partner,” after 200 years of non-alignment. Finnish President Sauli Niinistö reiterated that Finland’s membership of NATO was…
Estonia’s exports of goods totalled EUR 1.6bn at current prices in May 2023, which was down 15% from the same period of 2022, according to data from Statistics Estonia, ERR reports. Exports of goods of Estonian origin fell by 21% and accounted for 65% (69%) of total exports. Overall imports totalled EUR 1.9bn, which was…
NATO leaders and delegations have begun gathering in Lithuania’s capital, Vilnius, for the defence alliance’s summit due to take place on 11-12 July 2023, BNS reports. Lithuanian President Gitanas Nauseda will meet with NATO Secretary General Jens Stoltenberg at the summit venue, the Lithuanian Exhibition and Congress Centre (LITEXPO), on 10 July 2023. Also, Nauseda…
Estonia’s Defence Minister, Hanno Pevkur, voiced satisfaction at the details of NATO’s new defence plans for the Baltic region, ERR reports. He said that there were no outstanding points of contention regarding the plans ahead of the NATO summit in the Lithuanian capital, Vilnius. Discussions continued over the wording of the introductory section of the…
Estonian debt collection and credit management company Aktiva Finance Group will acquire Swedish credit management company Intrum Group’s business in the Baltic States for EUR 30mn, TVNET reports. Under the deal, Aktiva Finance Group will acquire 100% of shares in Intrum Group’s subsidiaries in Estonia, Latvia, and Lithuania. The transaction is expected to be closed…
Finland’s NATO membership opens up new opportunities for defence and security cooperation between Estonia and Finland, Estonian Prime Minister Kaja Kallas stated, The Baltic Times reports. Speaking during Finnish Prime Minister Petteri Orpo’s official visit to Estonia, Kallas said that Finland’s accession has bolstered NATO as a whole and the security of the Baltic Sea…