Latvenergo AS publishes an informative presentation about Latvenergo Group
Riga, 2021-07-16 13:57 CEST --
Latvenergo AS has prepared and publishes an informative presentation about Latvenergo Group, providing current information about the organizational structure, strategy, operating segments and financial indicators of the Group.
In 2020, energy sector, like the rest of the world economy, was affected by the COVID-19 pandemic. Nevertheless, Latvenergo Group’s timely and purposeful action to provide safe working conditions ensured stable and continuous energy generation, trade and electricity distribution. During this time, the Group started operating in the Lithuanian household electricity market and extended its operations in the field of electric mobility and the sales of solar panels.
In 2020, Latvenergo Group was the largest electricity generator in the Baltics, generating 29% of the total electricity output in the Baltic states. The share of electricity generated from renewable energy sources comprised 60%, making Latvenergo Group also the largest generator of green energy in the Baltics.
In the reporting year, Latvenergo operated in all energy trade segments in Latvia, Lithuania and Estonia, also continuing to actively expand into new business segments.
The year was particularly successful in the sale of solar panels, as well as, expanding this segment, Elektrum launched a solar panel park in Lithuania and is developing a project in Estonia with a total capacity of 1.75 MW.
In the electric mobility market segment launched in 2019, the network of electric vehicle charging stations expanded to 36 charging points by the end of 2020.
On 10 June 2020, transmission system assets were separated from Latvenergo Group by transferring the shares of Latvijas elektriskie tīkli AS in the amount of EUR 222.7 million to the Ministry of Economics.
In the reporting year, Latvenergo Group was the most valuable energy company in Latvia for the 13th time and repeatedly also in the Baltics. For the eighth year in a row, Latvenergo AS received the Platinum category from the Sustainability Index along with the highest overall assessment in the history of its participation.
Phone: +371 29 453 897
Latvenergo Group is one of the leading energy suppliers in the Baltics operating in electricity and thermal energy generation and trade, natural gas trade and electricity distribution services. Latvenergo AS has been acknowledged as the most valuable company in Latvia for several times. International credit rating agency Moody's has assigned Latvenergo AS an investment-grade credit rating of Baa2/stable.
Latvenergo Group is comprised of the parent company Latvenergo AS (generation and trade of electricity and thermal energy, trade of natural gas) and subsidiaries - Sadales tīkls AS (electricity distribution), Elektrum Eesti OÜ (trade of electricity and natural gas in Estonia), Elektrum Lietuva UAB (trade of electricity and natural gas in Lithuania), Enerģijas publiskais tirgotājs AS (administration of mandatory electricity procurement process) and Liepājas enerģija SIA (generation and trade of thermal energy in Liepaja, electricity generation). All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.