Riga energy storage economics

Focusing on green technologies and capacities - sustainable mobility, energy efficiency and renewables, climate change adaptation; circular economy; and biodiversity.
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Focusing on green technologies and capacities - sustainable mobility, energy efficiency and renewables, climate change adaptation; circular economy; and biodiversity.

Improving access to and the quality of general, vocational, and higher education; focusing on digital education, early childhood education and care; supporting youth employment.

promoting entrepreneurship, competitiveness, industrialisation; improving the business environment; fostering research, development and innovation, supporting small- and medium-sized businesses.

Promoting the roll-out of very high-capacity networks, the digitalisation of public services, government processes, and businesses, in particular SMEs; developing basic and advanced digital skills; supporting digital-related R&D and the deployment of advanced technologies.

Improving social and territorial infrastructure and services, including social protection and welfare systems, the inclusion of disadvantaged groups; supporting employment and skills development; creating high-quality, stable jobs.

Improving the resilience, accessibility and quality of health and long-term care, including measures to advance their digitalisation; increasing the effectiveness of public administration systems.

The map exclusively serves information purposes and is not an exhaustive database of projects supported by the Recovery and Resilience Facility. It does not reflect the distribution of the projects funded by the Recovery and Resilience Facility across the European Union, nor across different geographical areas or sectors within EU Member States. The RRF funding amounts shown for measures are based on the initial cost estimates included in the recovery and resilience plans.

Furthermore, the projects showcased are without prejudice to any future assessment by the Commission in the context of verifying the satisfactory fulfilment of milestones and targets under Regulation (EU) 2021/241 establishing the Recovery and Resilience Facility.

The country snapshot illustrates some of the most iconic and impactful projects included in the Latvian Recovery and Resilience Plan that will bring positive change for EU citizens, businesses and the EU at large.

The reforms and investments in Latvia''s plan are helping it to become more sustainable, resilient andbetter prepared for the challenges and opportunities of the green and digital transition. Following Council approval of Latvia''s plan on 13 July 2021, Latvia''s recovery and resilience plan was updated on 8 December 2023 also to introduce a REPowerEU chapter.

All measures included in the modified plan have to be implementedwithin a tight time frame, as the Regulation establishing the Recovery and Resilience Facility requires all milestones and targets within the national plans to be completed by August 2026.

The REPowerEU grant allocation amounts to €124 million. Moreover, Latvia has requested to transfer € 10.9 million from the Brexit Adjustment Reserve (BAR) to finance investments and reforms of the chapter, for a total of €135 million.

The REPowerEU measures include a reform that aims at bringing important transformation in the national energy sector by promoting energy communities and renewable energy self-consumption and self-generation. It will also contribute to optimising the use of existing distribution and transmission networks, and to improving the conditions for the uptake of sustainable biomethane.

The new investments are aimed at increasing the capacity of the electricity grid, accommodating the integration of Renewable Energy Sources (RES), and accelerating the synchronisation of the national electricity network with the Continental Europe network. The investments are also aimed at digitalising, modernising and securing electricity transmission and distribution networks, as well as at increasing the uptake of sustainable biomethane.

To increase the security and stability of electricity supply, under the REPowerEU chapter of Latvia''s revised plan a 60-megawatt Battery Energy Storage System will be installed. The investment measure will complement a cross-border project currently under implementation by Latvia, Lithuania, Estonia and Poland aimed at ensuring the synchronisation of the Baltic States'' electricity networks with the Continental Europe network.

In the area of climate and environmental policies, Latvia''s challenges include the need to improve energy efficiency and accelerate the renovation of the building stock, to deploy sustainable and clean mobility and transport solutions, and a relatively slow roll-out of renewable energy sources to generate electricity.

Effectively, the investments and reforms in the revised plan continue to focus on clean transport, energy efficiency of private and public buildings, electricity network modernisation and flood risk reduction measures. The plan also preserves the legislative action to facilitate the deployment of onshore wind energy at national level.

As a result of the addition of the REPowerEU chapter, the modified plan has further strengthened the original focus on the green transition, now devoting 42% of the available funds to measures thatsupportclimate objectives (up from 37.6% in the original plan). This means a stimulus worth €827 million under the Recovery and Resilience Facility by 2026 for investments and reforms accelerating the green transition and fostering climate change adaptation.

The general objective of the measure is to contribute to reduce Latvia''s greenhouse gas (GHG) emissions with a focus on transport which represents the biggest source of GHG emissions.

Digital challenges for Latvia include improving basic digital skills, increasing the uptake of digital solutions by businesses as well as alleviating the shortage of information and communication technology specialists, which currently impacts workforce availability, competitiveness, resilience, use of government e-services and innovation alike.

The modified plan has further strengthened the focus on the plan on the digital transition, devoting 23% of the available funds to measures thatsupportdigital objectives (up from 21% in the original plan).

The investment consists of the establishment of the Latvian Federal Cloud, which provides for consolidation of public sector data storage and computing capabilities.

About Riga energy storage economics

About Riga energy storage economics

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