Following a share purchase agreement signed just a month earlier, on 13 December 2024 a highly regarded client of Ellex in Latvia closed the transaction that involved acquisition of over 8000 hectares of forestlands, situated in various parts of Latvia.

The aim of the new Industrial Emissions Act is to transpose EU Directive 2010/75/EU on industrial emissions into Estonian law.

Latvia is set to significantly reform its natural resources tax framework for renewable energy projects, introducing a substantial reduction in the BESS tax rate from EUR 17.03/kg to EUR 2.00/kg and expanding exemption eligibility beyond solar installations. The amendments will eliminate the current 1 MW minimum capacity threshold and remove supplier guarantee exemptions, while establishing new procedures for waste management compliance across all battery storage systems.