Lithuania''s SNG Solar is set to build a 100 MW solar plant in the port of Riga, Latvia. Upon completion, the facility will be one of the largest solar projects in the Baltics.
SNG Solar will build the 100 MW solar plant within five years, as outlined in the agreement. The project will involve installing solar panels, connecting them to a 110 kV line, and building a high- and medium-voltage substation. Total investment is projected to be between €60 million ($66.8 million) and €80 million.
Earlier this year, SNG Solar secured the land lease rights through an auction. The Freeport of Riga will receive 2.5% of the green energy generated, which will support port infrastructure and operations. The plant is expected to produce about 100,000 MWh of green electricity per year.
The 100 MW solar facility will be constructed on a 177.2-hectare site in Spilve Meadows, on the left bank of the Daugava River in Riga. This project is part of the Freeport''s plan to transform the area into a hub for solar electricity production, energy storage, hydrogen, and alternative fuel production, as well as an industrial and logistics park.
Once completed, the project will be one of the largest solar parks in the Baltics. In May 2023, Latvian developer PurpleGreen Energy B announced plans for a 400 MW solar power plant near the Russian border.
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The work assignment includes the installation of solar panels and connection to a 110 kV line, as well as the construction of a high-voltage and medium-voltage substation in the future Spilve Industrial Park of the Freeport of Riga.
"The implementation of projects of this scale and scope reaffirms that our ports are not just berths for cargo handling, but hubs of innovation, production and economic development. Attracting investment in ports shall be our priority and ambition for economic growth," said Viktors Valainis, Minister of Economy.
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.
"We are pleased to be part of such an ambitious solar park project, which provides an excellent opportunity to develop this area of the Freeport of Riga. We sincerely hope that our unwavering conviction and belief in the future potential of green energy, as well as our joint efforts in implementing the project, will result in an "energy pearl" for Riga that will be able to supply consumers with clean energy for many years to come," said Sergei Badulia, CEO of SNG Solar.
SNG Solar is a solar project management and development company offering its clients full-scale solar project solutions, including the entire supply chain and installation. The company has been active in the development of solar projects and solar parks for 10 years. Together with investors and partners, SNG Solar has completed large-scale solar projects in the Baltics, Europe and Central Asia.
The terms of the concluded agreement stipulate that the land rent consists of two components, one being the auctioned price of the land rent in EUR and the other being the auctioned amount of electricity produced in each electricity trading interval. According to the auction result, the annual rent specified in the contract amounts to EUR 233 251 and the amount of electricity to be transferred to the Freeport of Riga Authority will be 2.5% of the total green energy produced, which will be further used for the maintenance of the port infrastructure and operation.
Actions taken today to reduce emissions will inform the pace and scale of Latvia''s energy transition and achieving its ambitious goal of climate neutrality by 2050, according to a new in-depth policy review by the International Energy Agency (IEA).
The review, published today, is a key milestone in Latvia''s accession to the IEA, coming after ministers of IEA member countries in February invited Latvia to become the Agency''s 32nd member.
Latvia continues to expand the share of renewable energy in its power mix, which accounts for around three-quarters of electricity generation, with much of the current output from hydropower and biomass. This provides a strong foundation for the country to further reduce its emissions economy-wide and reach its renewable energy targets, including a recently updated intention to meet nearly 60% of its final energy consumption from renewables alone by 2030.
However, other sectors – notably transport and buildings – continue to consume large amounts of energy and rely on dated infrastructure. According to the report, this is hindering stronger efforts to reduce overall energy consumption and greenhouse gas emissions. It therefore urges the government to prioritise energy efficiency and fuel switching in these sectors.
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