LATVIAN RENEWABLE ENERGY POLICY IN THE CONTEXT OF EU INITIATIVES

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Published: May 23, 2023

  Liliia Khorishko

  Anna Rudnieva

Abstract

Energy security and reduction of dependence on energy imports is a key issue on the EU's agenda in the context of today's global challenges. The resource potential of renewable energy expands the capabilities of EU member states to increase energy sustainability and attract additional investments to implement the green transformation of national economies. The EU has adopted a number of initiatives under Directive EU 2018/2001, REPowerEU, which are synchronized with "The European Green Deal". They are aimed at boosting the development of renewable energy. These EU initiatives and the need to increase energy security and sustainability make the development of renewable energy relevant for Latvia. The subject of the study is the content and features of Latvia's energy policy. The purpose of the scientific research is to study the key trends in the development of Latvia's renewable energy policy in the context of EU initiatives. Research methodology: systematic approach, methods of analysis and generalization. One of the key areas of the government's energy policy is the development of renewable energy. This is stated in the National Energy and Climate Plan 2021-2030 and the Sustainable Development Strategy until 2030. Key tasks include synchronising the efforts of the state, business, the public and stakeholders in developing energy security by increasing the use of energy from renewable sources, attracting investment in the energy sector to promote a green economic transformation, energy efficiency and creating a culture of responsible resource consumption. Latvia has identified key areas for the development of renewable energy in line with the content of its energy policy and relevant EU initiatives. Considerable attention is being paid to optimising the regulatory framework. The Green Channel online platform has been created to coordinate the efforts of the government and stakeholders in developing key sectors of the national economy, including renewable energy. The resource of cross-border cooperation is actively used in the implementation of projects for the construction of wind farms for the production of electricity and the necessary infrastructure for its supply to domestic and foreign consumers. The research phases of the Latvian-Estonian offshore wind project ELWIND and the construction of the Kurzeme wind farm with the assistance of the Swedish company Eolus and the German company PNE have been launched. Domestic stakeholders are interested in building solar parks and related infrastructure. Considerable attention is being paid to the digitalisation of the energy sector in order to optimise the management of the energy market and consumer services. Results of the study: the priority direction of Latvia's energy policy is the development of renewable energy in the context of increasing the level of energy security of the state and correlation with relevant EU initiatives; the national government promotes the optimisation of the content of the regulatory framework in the field of renewable energy, expands opportunities for cross-border cooperation and involves stakeholders' initiative in project implementation; measures are taken to digitalise the energy sector and create a culture of responsible energy consumption.

How to Cite

Khorishko, L., & Rudnieva, A. (2023). LATVIAN RENEWABLE ENERGY POLICY IN THE CONTEXT OF EU INITIATIVES. Baltic Journal of Economic Studies, 9(2), 211-215. https://doi.org/10.30525/2256-0742/2023-9-2-211-215
Article views: 471 | PDF Downloads: 252

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Keywords

renewable energy, energy security, energy policy, energy market, cross-border cooperation, stakeholders

References

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