Riga s new solar panels

Will a solar energy park be built in the port of Riga?

Today, on 9 September, an agreement was signed between the Freeport of Riga Authority and the Lithuanian company SNG Solar on the lease of land in the Port of Riga in the Spilve Meadows area for the development of a solar energy park.

How much will SNG solar invest in Freeport of Riga?

SNG Solar won the auction organised by the Freeport of Riga Authority for the land lease right and at the beginning of May the Freeport of Riga Board decided to enter into an agreement with the Lithuanian company. The total investment in the park is expected to be between EUR 60 and 80 million.

How much green energy will the Freeport of Riga generate?

According to the auction result, the annual rent specified in the contract amounts to €233,251 ($258,714 million) and the amount of electricity to be transferred to the Freeport of Riga Authority will be 2.5 per cent of the total green energy produced, which will be further used for the maintenance of the port infrastructure and operation.

Should Riga develop an industrial park?

Several international investors have reportedly already expressed interest in developing an industrial park in the Port of Riga. In total, an area of almost 400 ha has been allocated for the development of the Spilve Industrial Park, providing space for large-scale logistics and manufacturing projects.