Niam Infrastructure Expands Renewable Energy Platform in Latvia
Infrastructure Project | May 08, 2025 | Niam AB
Niam Infrastructure, in partnership with Baltic energy developer Evecon, has initiated the second phase of their renewable energy platform in Latvia, moving forward with their joint venture project. The platform, initially launched in June 2024, aims to reach a total installed capacity of 110 MW, covering solar photovoltaic (PV) and battery energy storage. The current expansion includes the construction of four additional projects, which will contribute a further 36.3 MW, thereby bringing the platform's total capacity to 75.7 MW. This phase is on track to complete by the end of the first quarter of 2026. WiSo Engineering, a subsidiary within the Evecon Group, maintains its engineering, procurement, and construction (EPC) responsibilities. These developments underscore Niam's commitment to scalable, sustainable infrastructure investments that support energy transitions, optimized by positive market and regulatory settings in Latvia. The collaboration with Evecon is instrumental in advancing large-scale renewable energy projects across the Baltics.
Sectors
- Renewable Energy
- Infrastructure Investment
Geography
- Latvia – The projects and investments discussed are taking place in Latvia, which holds significance as the location for the renewable energy platform's expansion.
- Baltic Region – Beyond Latvia, the article reflects on the engagement and potential impact of renewable projects across the broader Baltic region, including Estonia and Lithuania.
Industry
- Renewable Energy – The article is centered on the renewable energy sector, specifically the development of solar PV and energy storage projects by Niam Infrastructure and Evecon.
- Infrastructure Investment – Niam Infrastructure is investing in sustainable infrastructure projects which are key components of the renewable energy developments discussed.
Financials
- 110 MW – The target total installed capacity of the joint venture renewable energy platform in Latvia between Niam and Evecon.
- 75.7 MW – The total installed capacity following the completion of the second phase of the renewable energy project.
- 39.4 MW – The capacity of the first phase projects nearing completion.
- 36.3 MW – The capacity of the new projects starting construction in the second phase.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Niam AB | Private Equity Firm | PE Firm | A Nordic real assets investor with a focus on sustainable investments in renewable energy. |
| Evecon | Baltic clean energy developer | Company | Evecon is engaged in large-scale solar, wind, and energy storage projects across the Baltics. |
| WiSo Engineering | Engineering, Procurement, and Construction Contractor | Company | A wholly owned subsidiary of the Evecon Group, responsible for executing the engineering, procurement, and construction activities. |
| Linus Hgg | Chief Investment Officer | Person | Linus Hgg is the CIO at Niam Infrastructure guiding their investment strategies. |
| Karl Kull | CEO | Person | Karl Kull is the CEO of Evecon, leading their renewable energy initiatives. |