OREANDA-NEWS. Referring to the newspaper Dienas Bizness publication “Latvenergo ready to invest billion dollars” made on 31.07.2013, we hereby inform that Latvenergo Group investment program amounts to an average 200 million lats per year.

During the years 2007-2012 the capital expenditures were approximately 200 million lats per year, with exception for years 2009 and 2010 (years of the financial crisis), when the amount of capital expenditures was reduced due to limited availability of funding sources.

In the coming years Latvenergo plans to maintain the current level of investments.

The amount of Latvenergo planned capital expenditures depends on both the large new investment projects (Reconstruction of Riga CHP-2, Kurzeme Ring, Latvian - Estonian interconnection) and investments required for the maintenance and renewal of the existing assets, as well as the availability of funding available for the company.