Cobalt has advised energy infrastructure contractor Enersense SIA on the formation of a joint venture with Siemens Energy Global.
Enersense SIA is a Latvian subsidiary of Enersense, an international group of energy and technology companies.
According to Cobalt, “the joint venture was formed to supply and install three synchronous condensers for Latvian transmission system operator Augstsprieguma Tikls. The total contract value is EUR 114 million.”
According to the firm, “the construction of synchronous condensers is one of the projects to strengthen the transmission system infrastructure. This project is necessary for the synchronization of the Baltic electricity system with Continental Europe, which is planned for 2025. The synchronous condensers will be installed in three substations of the power transmission system – Ventspils, Liksna, and Grobina, all located in Latvia.”
Cobalt’s team included Partner Gatis Flinters and Senior Associate Martins Tarlaps.
Cobalt did not respond to our inquiry on the matter.
