Will US tariffs affect Latvia?

While the U.S. is not a dominant market for Latvian exports, it remains significant, especially considering the crucial role of exports in Latvia’s economy. The direct impact of U.S. tariffs on Latvia would, however, likely remain relatively small.

Will additional tariffs be imposed on Latvian exports?

However, it is important to note that additional tariffs are likely to be imposed in the future. While the U.S. is not a dominant market for Latvian exports, it remains significant, especially considering the crucial role of exports in Latvia’s economy.

Where is the first battery energy storage system in Latvia?

On November 1 Latvia’s largest wind energy producer Utilitas Wind opened the first utility-scale battery energy storage battery system in Latvia with a total power of 10 MW and capacity of 20 MWh in Targale, Ventspils region.

Are new wind farms a good investment for Latvia's energy security?

I am pleased that the bar has been set high for developers of new wind farms, which also plays an important role in the context of Latvia’s energy security,” said Climate and Energy Minister of Latvia, Kaspars Melnis. Given the total investment in the project, the OP Corporate Bank provided loan financing.

How does tariff risk affect a battery energy storage system (BESS) project?

Mitigating tariff risk in battery energy storage system (BESS) projects is crucial for ensuring project financial viability, as tariff changes can significantly affect cost structures and overall project economics.

Will US tariffs affect energy storage?

There have also been indications that the US administration may consider other tariff proposals impacting energy storage, such as a 10–20% universal tariff, tariffs of up to 60% across the board on Chinese-origin goods, and tariffs of 25% on Mexican and Canadian origin goods.