Published: March 11, 2010
Latvenergo receives €150mn to upgrade power plant.
Latvian state-owned energy group Latvenergo has raised a €150mn syndicated loan to back the construction of a gas turbine facility.
The parties hope the deal will encourage the development of a modern power system in the Baltic region following the closure of the Ignalina Nuclear Power Plant.
The loan has been structured by the European Bank for Reconstruction and Development, which will retain €85mn of the loan on its own account. The remainder will be syndicated by UniCredit, DnB Nord and Nordea.