Cobalt has advised capital300 and Chalfen Ventures on a EUR 5 million series A investment into Riga-based startup Lokalise.
The mandatory procurement of electricity (a “feed-in tariff,” or FIT) is one of the main schemes implemented in Latvia to support the production of renewable energy. FIT is a guaranteed right to sell a certain annual amount of electricity to the public entity for a fixed period of time at a price that exceeds the market price. The advantageous system is made available to combined heat and power (CHP) plants of high efficiency and producers using renewable energy. FIT is an important component of each renewable energy project, as renewable energy production without these rights is uncompetitive.
Cobalt has successfully represented the Latvian Television public TV network before the Administrative District Court and Administrative Regional Court of Latvia against an association of political parties challenging the rules set by the network related to the allocation of airtime leading up to the elections of the 13th Saeima (parliament) as unlawful.
“In terms of national politics, when it comes to Latvia, the word of the day is ‘stability,'“ says Raimonds Slaidins, Senior Partner at Ellex Klavins in Riga. “The current coalition government has been in power for about one and a half years now, and other than the COVID-19 crisis this has been a good, stable period of time for us — there aren’t any indications that something might change in the near future regarding the national government.“
Sorainen has advised the Bite Group on a EUR 700 million bond issuance and refinancing. Latham & Watkins and Ellex reportedly advised initial bond purchasers and mandated lead arrangers Citigroup Global Markets Limited, Deutsche Bank AG, London Branch, ING Bank N.V., London Branch, and UniCredit Bank AG.