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Estonia’s Nelja Energia Plans Latvian Wind Parks, BNS Reports

Aug. 22 (Bloomberg) -- Nelja Energia AS, an Estonian renewable energy company majority owned by Norwegian Vardar AS, plans to build wind parks with a total capacity of 200 megawatt in neighboring Latvia, Baltic News Service reported, citing an interview with management board member Kalle Kiigske.

Total investment of about 500 million euros ($622 million) is planned, the newswire said. The company cited improving cooperation with Latvia’s new Economy Minister Daniels Pavluts as a key reason for the investment.

Nelja Energia has 12 wind parks, three of them in Lithuania, with a total capacity of 154 megawatt, BNS said.

To contact the reporter on this story: Ott Ummelas in Tallinn at oummelas@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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