Green Tech; Latvia one of the leading European Countries in Renewable Energy Sources
Latvia one of the leading countries across Europe in terms of specialization in renewable energy sources. Hydropower accounts for the largest source with 97% of total production, with the remaining 3% divided between wind and biomass. Biomass and biofuel are increasingly used in co-generating electricity and heat, as Latvia takes advantage of its natural resources and expertise in agriculture and woodworking. Latvia has also one of the highest shares of energy consumption from renewable sources and is gaining ground in energy efficiency.
Natural gas also plays a key role in Latvia’s energy sector, providing a cleaner alternative to conventional fossil fuels. Latvia possesses unique geological structures ideally suited to large-scale natural gas storage. This makes it a key player in regional gas storage, playing an extremely important role in supplying the Baltic States and regions of Russia.
Renewable energy sources are a very important sub-sector, making Latvia one of the leading countries in terms of specialization across Europe. There is great potential to grow in this sub-sector given Latvia’s large forest resources. Latvia has one of the highest shares of energy consumption from renewable sources and is gaining ground in energy efficiency.
Latvia’s key strengths in the greentech sector are its:
- Huge consumption of renewable energy sources
- Highest electricity consumption from renewable energy sources
- Lowest energy intensity
- Competitive position to export wood pellets
- Highly environmentally clean country
We have great experience attracting foreign direct investment (FDI). In 2009, 17m€ were invested in the greentech sector.
To learn more about the Latvian Green Tech sector, follow the link below.
7 October 2021