Opinion How offshore wind can shape the future

THE BALTIC SEA in recent years has become a place where everything converges: climate goals, economic ambitions, environmental protection, fishing, shipping and—more and more—security. Offshore wind energy for Latvia is not just a story about “green” electricity. It is a choice about what kind of Baltic Sea we want to see: will it be a space for our energy independence, security and innovation, or a territory of disputes, concerns and uncertainty?

According to the latest insights from the LIAA survey, conducted in February in collaboration with the sociological research firm Norstat, there is already a solid foundation for a conversation about offshore wind-energy development.

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A convincing majority (70%) of the Latvian public considers the sea a suitable location for wind farms, and national energy independence remains a top priority (84%). In fact, the key question is no longer whether wind energy is beneficial, but rather how we can implement it safely and intelligently, ensuring that coastal residents and the country as a whole benefit from it.

Professionals also revisit this “how” once a year in dedicated discussions; for example, in the programme of the WindWorks 2026 conference, the security dimension was highlighted explicitly: how to protect critical energy infrastructure in the Baltics, and what to expect in terms of cybersecurity threats.

The planned Latvian-Estonian wind farm ELWIND is not an isolated object. It will become part of a system consisting of subsea cables, substations, communication solutions, maritime traffic safety monitoring, remote control, data exchange and many other components. In other words, it is a network of critical infrastructure whose vulnerability in Europe has, in recent years, become an open and publicly acknowledged fact.

That is precisely why tangible steps have already been taken at the European level to treat underwater infrastructure not merely as an engineering solution, but also as a significant security issue. In 2024, the European Commission published recommendations for the security of submarine cables, emphasising co-ordination, governance and funding measures to mitigate risks to these connections that are vital for global communications. Meanwhile, in 2023, NATO established the Critical Undersea Infrastructure Coordination Cell to strengthen co-operation with industry, promote the exchange of best practices and enhance defence capabilities.

Security is not an abstract concept in Latvia either. In April 2024, the energy ministers of eight Baltic Sea countries agreed the Vilnius Declaration, which provides for closer co-operation in strengthening the security of critical offshore energy infrastructure. This agreement was reached at a time when concerns in the region had increased over attacks and acts of sabotage, which have highlighted the vulnerability of infrastructure.

In the current context of geopolitical tension, energy security has shifted from a theoretical concept to a matter of everyday costs and resilience. Even minor disruptions in supply chains are enough for global price increases to impact inflation in Latvia. This is clearly reflected in the recent situation in the oil market. Crude oil prices have risen, while the European gas market remains volatile.

HOW DOES WIND ENERGY FIT INTO THIS CONTEXT?
In the event of unpredictable developments, imported fuel quickly becomes a significant risk to household budgets. Under these conditions, electrification and domestic renewable-energy sources take on strategic importance. The greater the share of consumption that can be shifted to electricity, and the more of it we produce ourselves (using wind, solar and other renewable resources), the less dependent we are on external disruptions, and the more stable and predictable energy bills become.

Excessive dependence on a limited number of electricity sources is a significant risk we cannot afford. Wind energy enables diversification of the energy-production structure; therefore, security and maritime spatial planning dimensions must be integrated from the very beginning of a project, rather than added later as an afterthought.

When designing such facilities, potential incident scenarios and response plans must be anticipated in advance, cybersecurity requirements should be included as a mandatory technical baseline, and maritime spatial planning must be carried out in a way that balances security and defence interests with the needs of energy, fisheries and environmental protection. With this approach, the ELWIND can become a reliable and resilient part of critical infrastructure.

Job creation, local business development, investment in infrastructure, as well as growth in science and research are among the most frequently cited benefits of offshore wind energy. Although approximately 70% of the population considers the sea a suitable location for wind-farm development, people still have questions about their potential impact on the landscape, biodiversity and restrictions on fishing, kitesurfing and shipping. Often, people’s perceptions are dominated by the image of wind turbines alone, rather than the broader scope of economic activity and overall benefits they can bring.

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The development of offshore wind creates opportunities for the emergence of new coastal industries and competencies. It encompasses a wide range of maritime-related activities—from energy production to the use of water resources and coastal tourism—while simultaneously fostering the development of new technologies, skills and services. From this perspective, offshore wind can become a significant platform that generates jobs in coastal areas and promotes innovation.

In Europe, this platform approach is increasingly manifesting as multi-functional solutions, for example, seaweed farming within wind farm zones. In the Netherlands, as part of the North Sea Farmers project at the Hollandse Kust Zuid wind farm, located approximately 18 kilometers offshore, commercial-scale seaweed cultivation has been established, while simultaneously researching biodiversity and carbon-sequestration opportunities. Meanwhile, the Ecowende wind farm, another Dutch project, is being created as one of the most environmentally friendly projects of its kind, where all activities and technical solutions are aligned with nature-conservation principles.

These examples lead to a vital conclusion: a wind farm is not a closed or restrictive zone; it can become a space for innovation, where research, services and coastal entrepreneurship develop simultaneously. In fact, it is part of the solution for preserving local communities and encouraging the younger generation to settle in coastal areas.

For Latvia, this perspective is particularly significant, as it offers coastal cities and ports the opportunity to transform from infrastructure peripheries into regional centers of competence. In practice, harnessing offshore wind energy means strengthening port capacities, developing logistics, vessel servicing, cable infrastructure, service and repair bases, as well as training opportunities. If this phase is not developed, the greatest added value flows elsewhere. Conversely, by developing it, coastal residents gain jobs, knowledge and business opportunities.

COEXISTENCE AT SEA
The survey mentioned above shows that public awareness in Latvia about wind-farm initiatives and energy-security issues is gradually increasing; however, a large part of the public still remains at the level of “I have heard about it” or “hard to say”. This lack of information creates fertile ground for rumour, resistance and politically motivated fluctuations during pre-election periods.

If we want to build an inspiring yet honest narrative, we must state clearly: ELWIND will only be successful if the discussion about it is framed in terms of security, economic development and public trust. To achieve this, simple and understandable principles are needed: fewer general slogans and more clear answers on the essentials (where the project will be located? why specifically there? what the benefits and risks will be? what compensation and benefit-sharing mechanisms are planned? and how nature and security protection will be ensured?)

Communication should follow an approach in which coastal residents are perceived as beneficiaries rather than obstacles. Latvia’s task is not to prove that wind energy is good; Latvia’s task is to demonstrate that it can be implemented safely, with added value for the economy, and through a process that the public can trust.

The author is the head of the ELWIND project division for the Investment and Development Agency of Latvia (LIAA).

Originally published by LIAA.

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LIAA Organizes a Trade Mission for Latvian Businesses to Sweden

The Investment and Development Agency of Latvia (LIAA) is organizing a trade mission for Latvian businesses to Sweden on May 11, 2026, led by Minister of Economics Viktors Valainis. Representatives from 76 Latvian companies have confirmed their participation in the visit, demonstrating strong interest in expanding cooperation in one of Latvia’s most important export and investment markets.

The central event of the trade mission will be the Latvia–Sweden Business Forum in Stockholm, which will be attended by representatives of the governments, business communities, and investment sectors of both countries. On the Swedish side, Sweden’s Minister for Foreign Trade Benjamin Dousa and the head of Business Sweden, the Swedish international trade promotion organization, Jan Larsson , underscoring the event’s high significance and political and economic weight.

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Originally published on 6 May

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Memorandum of Understanding signed to promote investment in Latvia’s transport and logistics sector

On 1 April 2026, a Memorandum of Understanding (MoU) on the promotion of long-term investment in Latvia’s transport and logistics sector was signed at the Ministry of Economics. The memorandum was signed by Minister of Economics Viktors Valainis, Director General of the Investment and Development Agency of Latvia (LIAA) Ieva Jāgere, and Povilas Drižas, Secretary General of the International Transport and Logistics Alliance (Tarptautinio transporto ir logistikos aljansas – TTLA). The objective of the memorandum is to facilitate the expansion of Lithuanian transport and logistics companies in Latvia, strengthening regional cooperation and developing a competitive transport and logistics ecosystem in the Baltics.

The International Transport and Logistics Alliance (TTLA), founded in 2019, unites 25 of Lithuania’s largest transport and logistics companies and represents a significant share of the international road freight market. The organization works to enhance the sector’s competitiveness and represent business interests at both national and international levels. TTLA members are international hauliers operating in European and Asian markets, forming a vital link in the Baltic region’s logistics chains.

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Originally published on 8 Apr

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Latvia to receive EIB guidance on unlocking stronger tech innovation

Latvia on accelerating the development of high-growth business sectors. Through this new cooperation with the Ministry of Economics and the Investment and Development Agency of Latvia (LIAA), the EIB will help the country create the conditions for more competitive and scalable companies.

EIB experts will assess how Latvian businesses, research institutions and emerging technologies are supported and identify where policies and financing can be strengthened. The work, due to take place until the end of this year, will also explore opportunities for deeper Latvian alignment with neighbouring Estonia and Lithuania to foster strategic Baltic-wide initiatives.

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Originally published on 7 Apr

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Riga is set to become Europe’s audio capital – “Radiodays Europe 2026” will take place in Latvia

From March 22 to 24, 2026, Riga will become the center of the European audio industry for a few days, hosting the world’s leading radio, podcast, and digital audio conference, “Radiodays Europe 2026.”

The event will bring together more than 1,500 media professionals from over 65 countries, including executives from major public and commercial media outlets, podcast creators, technology companies, content creators, and audio innovation experts. The conference in Riga will become one of the most significant international media industry events in the Baltic region.

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Originally published on 16 Mar

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50% of survey respondents believe an offshore wind park will have a positive impact on Latvia’s economy

The latest survey data show that public awareness in Latvia about wind park development plans and energy security issues is gradually increasing. For example, 65% of respondents in a survey conducted by Norstat Latvia report that they are at least somewhat informed about the plans to develop offshore wind park in Latvia. At the same time, society increasingly supports a “moderate” development approach – more and more residents believe that Latvia should become an energy-neutral country and produce only as much electricity as it consumes domestically.

A survey commissioned as part of the ELWIND project shows that public awareness of the joint Latvian–Estonian initiative to develop an offshore wind park in the Baltic Sea has increased. This year, 65% of respondents say they are aware of the project (61% last year). Most people have heard about the project but are not familiar with all the details, while only a small share report having a very good understanding of it.

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Originally published on 9 Mar

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Slovenian company NGEN Group enters Latvia: will develop energy storage project using Tesla technologies

At a media event hosted today by the Investment and Development Agency of Latvia, it was announced that the Slovenia‑based energy company NGEN Group is entering the Latvian market with a €50 million investment.

According to information provided by investors, a deal has been concluded whereby NGEN Group has become the 100% owner of SIA “Liepāja ESS” to implement a stand-alone grid-connected battery energy storage project with a capacity of 100 MW and a storage capacity of 200 MWh in Grobiņa parish, Dienvidkurzeme region, at the Grobiņa substation. Construction work is planned to be completed this year.

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Originally published on 3 Feb

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Latvia Sets Investment Record: Over €1 Billion in FDI Attracted in 2025

In 2025, with the involvement of the Investment and Development Agency of Latvia (LIAA), the implementation of 31 investment projects was launched. The total value of these projects reached €1.01 billion, and 1,350 new jobs will be created. The largest projects last year were related to bioeconomy, smart energy, high-value-added manufacturing, ICT, and other sectors.

Minister for Economics Viktors Valainis: “Latvia aims to be among the most attractive investment destinations in the region, and LIAA’s results in 2025 confirm this—the Agency has attracted the highest investment volume in a single year in Latvia’s history. It is particularly significant that data from the Bank of Latvia show that in the first three quarters of 2025, the total volume of foreign investment increased by €700 million. This means Latvia can and does compete. Our task is to continue improving the business environment, removing obstacles, and ensuring investors have a clear, fast path from concept to implementation.”

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Originally published on 15 Jan

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Open call for applications for foreign film and major event support programs; €10.7 million available over two years

From December 15, the Investment and Development Agency of Latvia (LIAA) will begin accepting project applications for the foreign film and major event support program with total funding of €10.7 million over a two-year period. Applications will be accepted until January 30, 2026.

The program helps Latvia compete internationally by attracting new film projects and encouraging event organizers in Latvia to hold international events that attract large numbers of foreign visitors.

The program aims to promote the export of services, raise Latvia’s profile, and generate long-term economic benefits by using Latvia as a platform for film production and international events.

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Originally published on 16 Dec

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Fintech in Latvia: 127 companies, 91 million in taxes, and the ambition to grow in global markets

There are 127 financial technology companies operating in Latvia, employing more than 3,600 people, generating a turnover close to 400 million euros, and paying over 91 million euros in taxes annually. These facts were highlighted today at the Fintech Breakfast “What is needed to realize Latvia’s FinTech ambitions?”, held at RTU Riga Business School (RBS) and organized by the Fintech Latvia Association and the RBS Baltic Financial Center. During the event, participants were introduced to the latest industry data, development dynamics, and its impact on the national economy, as well as key directions and practical steps for strengthening the sector going forward.

Latvian Fintech Observatory — a foundation for data-driven policymaking

To set the stage for further discussion, Kristīne Dambe, Director of the RBS Baltic Financial Center, presented the newly developed pilot tool — the “Latvian Fintech Observatory”, a comprehensive database of Latvian fintech companies. The tool is designed to provide policymakers, university students, lecturers, and other stakeholders with an independent, data-driven view of sector development. “The industry must take collective responsibility for its own progress. We can shape our own narrative and learn from our neighbors, but it is crucial to base decisions on data that reflect real trends and can serve as input for strategy. We hope the observatory will encourage discussions grounded in facts rather than assumptions and inspire the next generation of fintech creators,” emphasized Dambe.

Policymakers: fintech — export potential and global competitiveness

Minister of Economics Viktors Valainis highlighted the importance of export capacity: “We all want Latvian-founded companies not only to strengthen the local economy but also to become export-capable technology firms. In fintech, we have several strong players proving that we can be competitive internationally. Therefore it is important to create an environment that encourages companies to choose Latvia as a place to grow and develop both regionally and globally, and to actively promote Latvia internationally by engaging potential investors and partners. The industry has great potential, and we have planned a series of initiatives on our side to continue supporting it.”

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Originally published on 12 Dec

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