Energy Market Overview: Lithuania’s Wind Contribution Influences Baltic Electricity Prices
April brought favourable conditions to Estonian consumers and marked the second consecutive month of declining electricity prices. Thanks to sunnier weather and warmer temperatures, the average electricity price in April settled at 5.4 cents per kilowatt-hour, roughly 11.4% lower than in March and more than a quarter lower than in April of the previous year. The last time April was cheaper was in 2021, when the monthly average price stood at 4.4 cents per kilowatt-hour.
The reasons behind the lower prices are clear. Warmer weather reduced heating demand and, as a result, overall electricity consumption. Solar and wind generation increased significantly across the region, bringing a large volume of low-cost electricity to the market. This, in turn, reduced more expensive fossil-based generation. Additional support came from the ongoing Latvian hydropower high season, which helped displace higher-cost fossil-based generation assets.
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Originally published on 5 May
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Today, a study was presented regarding the role of green hydrogen in the Norwegian economy and its potential development in Latvia. Currently, Norway produces 10% of Europe’s total green hydrogen, making it the second-largest player in the industry after Germany. Latvia has also begun early-stage hydrogen technology applications in various sectors, including water transport and aviation fuel, which could potentially establish a new economic industry.
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Originally published on 10 Mar
Sunly, in collaboration with Metsagrupp, is developing a 16 MW / 32 MWh battery energy storage system (BESS) next to the 45 MW Raba solar park. The total project cost is €7 million, and it will be built without subsidies. Construction is set to begin this summer, with completion expected in early 2026.
The construction permit for the Raba battery park, located in Pärnumaa, was obtained in January, and work will commence in the coming months. The 16 MW battery can store 32 MWh of electricity over two hours, ensuring that solar energy can be used even when the sun is not shining.
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Originally published on 7 Mar
On 12 March 2025, maritime experts from CBSS Member States will convene online to discuss the priorities and initiatives of the Estonian CBSS Presidency on Green Shipping Corridors and Digital Twins of the Baltic Sea. The meeting is part of ongoing efforts to map current activities on these topics at both national and macro-regional levels in the Baltic Sea Region.
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Originally published on 6 Mar
Lithuania continues to bolster its presence in the international tourism scene, having recently received the prestigious ITB Health Tourism Award 2025. This award, presented by the world’s largest tourism exhibition, ITB Berlin, recognises countries for their achievements in developing health tourism infrastructure, service quality, and international visibility.
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Originally published on 7 Mar
NIB, Luminor Bank and NORD/LB have agreed to co-finance a 148 MWp solar farm in the Ventspils municipality. The project is developed by Stelo Orienta SIA, a subsidiary of European Energy, a Danish renewable energy company.
The overall financing amounts to EUR 68 million. NIB’s EUR 28 million loan is supported by the European Union under NIB’s InvestEU Framework Operation on Clean Energy Transition. This is NIB’s first InvestEU loan in Latvia.
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Originally published on 6 Mar
Akciju Sabiedriba ELKO Grupa (ELKO Group), a region’s leading distributor of IT and consumer electronics products, through its subsidiary Gandalf Distribution AB, has concluded a sales and purchase agreement for the purchase of 78.95 percent of the shares in Renewed AB, a fast-growing Sweden-based electronics recommerce player.
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Originally published on 6 Mar
INVL Baltic Sea Growth Fund, the leading private equity fund in the Baltics, together with the other shareholders, have completed the sale of InMedica Group, Lithuania’s largest private healthcare network, to Mehiläinen, Finnish largest social and healthcare provider with fast growing international presence
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Originally published on 6 Mar
Stable supply of electricity at affordable prices, achieving full independence of the Baltic Sea region from Russian supplies, as well as clean air, thanks to joint projects for the development of new technologies, including hydrogen, are potential benefits of cooperation between the Baltic countries, according to a new report by the ORLEN Group and S&P Agency. The report assesses the progress of the energy transition in the region and identifies opportunities for collaboration to accelerate decarbonisation efforts. It outlines specific areas of cooperation and their expected outcomes, following an in-depth analysis of conditions across eight countries: Poland, Germany, Denmark, Sweden, Finland, Lithuania, Latvia, and Estonia.
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Originally published on 4 Mar
In response to growing cybersecurity challenges, Latvia has accredited its first professional continuing education programme in cybersecurity—the Cybersecurity Technician programme, which is available at the European Distance Learning Centre. The programme seeks to train qualified cybersecurity technicians capable of ensuring the security of an organisation’s IT systems and data, identifying and responding to cybersecurity threats, and implementing preventive measures to protect IT environments.
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Originally published on 5 Mar
Tallinn’s story of a zero-waste Song and Dance Celebration has won the ITB Earth Award 2025 at the Green Destinations Top 100 Story Awards competition, one of the world’s largest tourism fairs held in Berlin. The award highlights Tallinn’s innovation and commitment to sustainability as a tourism destination.
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Originally published on 5 Mar