Home Port News Major solar park set to transform port of Riga into green energy... On 9 September, an agreement was signed between the Freeport of Riga Authority and Lithuanian company SNG Solar for the lease of land in the Spilve Meadows area of the Latvian port.
This deal marks the beginning of a major solar energy project at the port of Riga, which will include the installation of solar panels, the production and storage of renewable electricity, and the development of hydrogen and alternative fuel technologies.
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.
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).
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