Energy, Estonia, Good for Business, Investments, Latvia
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Sunday, 06.10.2024, 02:40
President Berzins opened Eesti Energia's first investment project in Latvia
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| Photo: president.lv |
Eesti Energia owns land in the USA and is making preparations or building a power station in Jordan but hadn't made any investments in Latvia or Lithuania yet.
The electricity capacity of the co-production station in Valka, next to the Estonian border is 2.4 MW and heating capacity 8 MW. The new station will supply the town of Valka with central heating, electricity will b sold in Latvia.
Eesti Energia sells electricity in Latvia since 2006.
"The co-production station offers consumers heating with competitive prices while we disperse and diversify electricity production and reduce transmission costs of electricity," said Eesti Energia manager Sandor Liive.
The Valka station was built with financial help from the EU, the investment amounted to around 10 million euros of which 36% came from the EU structural funds.
Eesti Energia's subsidiary Enefit Power&Heat produced so far central heating in Valka in boiler houses that used biofuel and fuel oil. These stay in reserve now. Eesti Energia owns 90% and the town of Valka 10% of the company's shares.
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