Sorainen is advising SIA WPR2, a joint venture owned by funds managed by Taaleri Energia and Lords LB Asset Management, on the development of a major wind energy project in Smiltene, north-eastern Latvia.

About the project

The wind farm will feature 16 high-capacity wind turbines, each with a nominal capacity of 7 MW, resulting in a total installed capacity of 112 MW. This will generate enough electricity annually to power over 80,000 households, making it one of the largest wind farms in Latvia and significantly boosting the country’s renewable energy capacity. Balance of Plant (BoP) preparations started last year while wind turbine construction is yet to begin, with all turbines expected to be commissioned by early 2027.

Our team and involvement

Sorainen has been privileged to support the client throughout the acquisition, permitting, and development phases, including:

  • legal due diligence on the project, preparation and negotiation of acquisition documents
  • permitting assistance, including on construction and grid access matters
  • stakeholder engagement, such as in negotiations with landowners and third parties
  • drafting and negotiating development contracts, including BoP, supervision, TSA, and other key agreements

In addition, Sorainen acted as the borrower’s local counsel for the project’s financing transaction, with Greenberg Traurig acting as lead counsel. The total financing amounts to EUR 92 million, co-financed by the European Bank for Reconstruction and Development (EBRD), the Nordic Investment Bank (NIB), and Luminor Bank. Sorainen advised on Latvian legal aspects of the facility agreement, covering financing, construction and renewable energy matters. The team is continuing to support the client with the local collateral agreements and conditions precedent documentation required for financial close.

“This project is a significant step forward for Latvia’s renewable energy ambitions, delivering real benefits to the local community. It not only strengthens domestic wind capacity but also demonstrates strong international confidence in Latvia’s green transition,” notes partner Jorens Jaunozols.

The Sorainen team is led by partner Jorens Jaunozols, while for financing aspects it is co-led by partner Rūdolfs Eņģelis and counsel Inese Heinacka. The team also includes partner Lelde Laviņa, counsel Natālija Grāvele, and senior associates Andris Vilisons, Kate Ezerkalne, Līva Aleksejeva and Roberts Prūsis.