Latvia Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in latvia, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Renewable Energy Equipment
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Due to substantial hydroelectric capacity and biomass, Latvia markets itself as having one of the “greenest” supplies of energy in Europe, with renewable sources of energy making up about nearly 45 percent of total energy consumption. The European Union has set climate change goals that aim to increase renewable energy use, and current EU policy dictates that Latvia must increase the share of renewable energy in its final energy consumption. Latvia plans to reach the target of 61 percent of consumption from renewable sources by 2030, in accordance with the EU’s National Energy and Climate Action Plan 2030.  

Approximately 15 percent of Latvia’s heat and electricity comes from imported natural gas. Lacking its own oil refining capacity, Latvia imports all of its refined petroleum products. The Latvian government has diversified supplies and is developing more local resources to reduce the country’s reliance on foreign sources of energy.

To reach their renewable energy targets, government agencies and entrepreneurs have developed significant wind and solar electricity generation capacity. Many stretches of the Baltic coast have conditions suitable for wind parks, both on shore and offshore. Over half of Latvia is covered by forest, so wood biomass presents excellent potential for further development. 

Leading Sub-sectors

The best prospects for U.S. exports in the energy sector include LNG and diesel, along with energy-efficiency solutions and equipment, biomass gasification technology, wind parks, hydrogen, solar, energy storage, and related technologies.

Opportunities

Please note the Supplement to the Official Journal of the European Union dedicated to European public procurement. The most promising sectors for renewable energy equipment in Latvia are energy efficiency solutions, battery storage technologies, biomass power, wind energy, and energy produced in combined heat and power plants.

Resources

  • Latvia’s National Energy and Climate Plan 2021-2030
  • Latvian Investment and Development Agency
  • Investment and Development Agency of Latvia - Environment and Renewable Energy Industry
  • Public Utilities Commission
  • Latvian Export and Import Directory 

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