Energy, Estonia, EU – Baltic States, Latvia, Legislation

Naburgs has an extensive background in investment banking and renewable energy project development as prior to joining 4Energia he has worked for DnB Bank and International Airport Riga. He holds both MBA and MSc degree from Växjö University and Södertörns University in Sweden and also from Oslo University in Norway, informs 4Energia.

Naburgs believes that Latvia has high potential to increase its energetic independence in a sustainable way as the country has a natural platform for green energy – rich in biomass, 531km of windy coastline, availability of unused agricultural land and long tradition of using hydro energy. He said „Combining both 4Energia’s wind energy experience in the other two Baltic countries and the majority investor’s – Norwegian municipal enterprise Vardar Eurus high values our aim is to become a leading player also in the Latvian market. We are currently preparing both wind energy projects but also looking into the biogas and biomass segments.”

Martin Kruus, the Chairman of the Board of Nelja Energia – 4Energia SIA’s mother company sees the biggest potential for growth in Latvia. “Our group’s investments into renewable energy in the Baltic States amount to over MEUR 300 and having already invested into projects in Estonia and Lithuania the company is willing to allocate a considerable amount of its further investments into Latvian economy and renewable energy,” said Kruus.