It is planned to create the largest solar panel port in Latvia with a nominal capacity of at least 100MW and a planned electricity production of at least 100,000MWh per year in the territory of the Port of Riga. The term of the lease agreement is 45 years, and electricity production has to be started within 5 years from the conclusion of the lease agreement. The creation of the solar panel park will be the first essential step in the implementation of the ambitious Spilve Industrial Park project.

Following the decarbonization of the shipping industry and complying with the climate goals set by the European Commission, the Freeport of Riga is currently actively involved in various initiatives related to the development of local and cross-border hydrogen communities or valleys.

It is expected that hydrogen will soon become one of the basic elements of the decarbonized economy. This field has gained special relevance in Europe and the EU with the approval of the European Green Deal and the adoption of the European Union Hydrogen Strategy in July 2020. Due to the war in Ukraine, this issue has materialized as the RePowerEU plan, which aims to reduce the dependence on Russia, promoting the production of alternative fuels of European origin, energy efficiency, and energy saving measures, along with significantly increased European produced and imported volumes of sustainable hydrogen.

The winner of the auction is the Lithuanian company UAB Saulės Grąža, one of the largest developers of solar energy parks in Lithuania, which has been operating in the production of solar energy and development of solar parks for more than 10 years. The company has developed large-scale parks in various regions of the world in cooperation with its investors and partners.

The auction winner will have to develop the solar park and distribution infrastructure within the next 5 years. According to the estimates of the Freeport of Riga Authority, the total investment into the park will exceed EUR 90 million.