Port of Riga to build solar park

The project provides for the installation of solar panels, renewable solar electricity production and storage, as well as hydrogen and alternative fuel production.

According to the agreement, SNG Solar will build a solar power plant with a nominal capacity of 100 megawatts (MW) on an area of 177.2 hectares (ha) on the Spilve Meadows site within five years, providing production of about 100,000 megawatts-per-hour (MWh) of green electricity per year. The planned solar park at Spilve Meadows will be one of the largest green energy production facilities in the Baltics.

The work assignment includes the installation of solar panels and connection to a 110 kilovolt (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.

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 €60 ($66.58 million) and €80 million ($88.76 million).

According to the Freeport’s plan, the area on the left bank of the Daugava River in Spilve Meadows is to be developed into a technology centre for renewable solar electricity production and storage, hydrogen and alternative fuel production, as well as for the development of an industrial and logistics park for the entire region.

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. 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 Euros 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 €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. “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,” said Sergei Badulia, CEO of SNG Solar.

“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.”

 “The concluded agreement on the lease of land in the Spilve Meadows area of the Port of Riga and the construction of a solar power plant will not only provide greener energy for the port and the port’s stevedores but is also an important step towards the efficient development of the Spilve area and the planned Spilve Industrial Park,” noted Ansis Zeltiņš, Freeport of Riga CEO. “With the opening of the door for millions of investments to flow into the Port of Riga, we are simultaneously promoting the production of renewable electricity, progress towards green goals and energy independence, as well as hydrogen and alternative fuel technologies.”