Eolus sells wind power project to Latvenergo

Eolus, a renewable energy developer, has sold a greenfield wind power project “Pienava” to Latvenergo, Latvia’s state-owned energy company. Eolus will continue to manage the development of this project until its completion. The wind farm is expected to start commercial operation in the first half of 2027.

Developed over several years, the “Pienava” greenfield project, situated in Tukums municipality, will feature 21 Nordex wind turbines with a total capacity of 147 MW. Once operational, the wind farm is projected to supply up to 475 GWh of renewable electricity annually to the Baltic power grid. This landmark project will significantly contribute to the regional grid’s ambitious transition from fossil fuel dependence to renewable energy and foster deeper integration with the European electricity market.

The total planned construction investment in the wind farm is estimated at approximately EUR 215 million. Beyond providing affordable, green energy, the wind farm will also contribute positively to the municipalities of Tukums and Dobele and their nearby residents through annual payments totalling over EUR 350,000.

COBALT team which includes Partners Gatis Flinters, Dace Silava-Tomsone, Sandija Novicka, Specialist Counsel Elīna Ločmele, Senior Associates Mārtiņš Tarlaps, Artūrs Valderšteins, Juris Grantiņš, and Associates Vadims Zvicevičs, Toms Dreika and  Krista Helmūte provided comprehensive legal support throughout the development of the wind farm, as well as advised Eolus on the sales transaction.

Eolus announcement.