/LONDON, June 17, 2026, 10:00 BST, RENEWABLE MARKET WATCH™/ The European Investment Bank (EIB) has invested €20 million in green bonds issued by Latvenergo, Latvia’s state-owned energy leader.
This strategic investment underpins Latvenergo’s latest bond issuance within its European Green Bond framework, directly enabling the financing of large-scale renewable energy projects and sustainable infrastructure development across Latvia. By facilitating capital for these initiatives, EIB’s participation accelerates Latvenergo’s growth as a key driver of the national and regional energy transition. The funding will be allocated to a portfolio of renewable energy initiatives, including the expansion of onshore wind capacity, deployment of advanced battery energy storage systems, refurbishment of existing hydropower assets, and installation of new solar photovoltaic facilities. These targeted investments will strengthen Latvia’s energy mix, enhance grid reliability, and drive the country’s transition toward a sustainable and secure energy system. Through this investment in a green senior bond in the Baltics, the EIB reaffirms its commitment to advancing green finance and supporting the ongoing development of regional capital markets. By prioritising the resilience of the Baltic energy infrastructure and the security of electricity supply, the EIB is helping to lay the groundwork for long-term economic stability and energy independence in Latvia and the wider region.
“We are helping to accelerate the clean energy transition in Latvia and across the Baltics,” said EIB Vice-President Karl Nehammer. “This operation demonstrates how capital markets can mobilise large-scale investment in renewable energy and strengthen Europe’s energy security.”
The EIB’s €300 million commitment supports a seven-year bond issued under Latvenergo’s Euro Medium Term Note programme, structured in full alignment with the European Green Bond Standard. This alignment guarantees a high level of transparency, robust reporting, and stringent environmental oversight, bolstering investor confidence and enhancing Latvenergo’s reputation as a leading sustainable issuer in European capital markets.
“Latvenergo is a sustainable energy company in the region, and our intention is to strengthen this position,” said Guntars Baļčūns, Member of the Management Board and CFO of Latvenergo AS. “Each successfully implemented development step strengthens confidence in the chosen direction. Our more than 25-year partnership with the EIB reflects a shared commitment to advancing the Baltic energy transition, supporting high sustainability standards, and driving our long-term growth strategy.”
By acting as an anchor investor, the EIB plays a pivotal role in attracting further private capital, broadening the investor base, and increasing access to sustainable financing for Latvenergo and the wider region. This strategic participation also accelerates the growth and sophistication of the green bond market in the Baltics, while promoting the adoption and scaling of the European Green Bond Standard as a benchmark for transparency and environmental integrity in capital markets. This operation exemplifies the EIB’s mandate as the European Union’s climate bank, underscoring its commitment to bolstering energy security, accelerating the shift away from fossil fuels, and advancing the climate neutrality agenda in Latvia and across the broader Baltic region. The EIB’s involvement further reinforces long-term economic resilience and sustainable growth for the region.
About the EIB Group
The European Investment Bank (EIB) Group is the financing arm of the European Union, owned by the 27 Member States, and one of the largest multilateral development banks in the world. In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and the environment, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and the bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group crowds in private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations.
About the Latvenergo
Latvenergo Group is one of the largest providers of energy supply services in the Baltic states, engaged in the generation and trade of electricity and thermal energy, and distribution of electricity. Since 1939, Latvenergo is the largest producer of renewable energy in the Baltics and one of the greenest electricity generators in Europe – approximately half of the electricity is generated in three large hydropower plants. They are complemented by modernised combined heat and power plants, where electricity is obtained from natural gas. The Group develops new green wind and solar energy generation capacities in the Baltics and is also a leader in the field of electromobility services. All shares of Latvenergo AS are owned by the state and held by the Ministry of Economics of the Republic of Latvia.
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