Over the past five years, Elektrum Group has invested 1.5 billion euros in its development, modernising its existing generation capacity, building an extensive electric vehicle charging network throughout the Baltics and developing new renewable energy generation projects. These projects make electricity prices more predictable and strengthen the region’s energy independence and security. The company’s new strategy aims to maintain this pace of development over the next seven years.
Mārtiņš Čakste, CEO of Elektrum Group: “We have proved ourselves to be a competitive company in a free market, having more than doubled our value over the past five years. By removing barriers to investment in the energy sector, Elektrum Group can help increase Latvia’s GDP by a total of 10 billion euros over the next ten years.”
“Our future lies in electrification. Today, Europe’s only path to competitiveness is green, secure energy. This requires a major transformation, bold decisions at national level and substantial investment in both new generation capacity and secure infrastructure,” Čakste emphasises.
Elektrum Group's renewable energy portfolio has expanded rapidly in 2026, with several wind farms beginning operations in Latvia (Kaigas and Pienava) and Lithuania (Telšiai and Akmenė), alongside the largest solar park in the Baltics, in Aizpute.
In line with its medium-term strategy, which aims to increase renewable energy generation capacity and sustain the growth of electric vehicle charging and electricity trading throughout the Baltics, Latvenergo AS has decided to invest further in developing the “Elektrum” brand. Leading energy companies in Estonia and Lithuania have consolidated their brands in recent years.
Elektrum Group is one of the largest energy market players in the Baltics and a leader in green electricity generation. We provide secure, reliable energy, shaping the future through renewable resources, e-mobility and innovation.
Elektrum Group's principal company is Latvenergo AS. The group also includes Elektrum Eesti OU, Elektrum Lietuva UAB, Elektrum Next, Laflora Energy SIA and other affiliated companies. Elektrum Group's indicators also include Sadales tīkls AS, a company which is 100% owned by Latvenergo AS but operates independently and provides electricity distribution services in Latvia.
Elektrum Group's aim is to strengthen the energy independence of the Baltics, invest in new solutions and lay the foundations for growth in our region and further afield.