Energy, Financial Services, Latvia, Legislation

Augstsprieguma Tikls informed that the company plans to invest EUR 445 million in development of the power transmission system in 2018-2027.

Five projects where investments in the coming ten years are estimated at EUR 224 million, are or will attract co-financing from the EU, the Connecting Europe Facility, the company said.

Financing has already been attracted to three projects - the third phase of the transmission network project Kurzeme Ring, where the EU-cofinancing amounts to EUR 55 million and total costs to EUR 128 million, the third Latvian-Estonian power link where co-financing is EUR 63 million, and total investments reach EUR 102 million, and a new power transmission line between Riga TEC-2 thermal power plant and Riga HES hydro power plant where the co-financing is EUR 10 million, and total investments reach EUR 20 million.