Freeport of Riga Investing in wind energy assets
The Freeport of Riga will get a boost to the tune of EUR64.5 million to develop offshore wind technology production in Latvia. The investment will create a green industrial territory in the Freeport of Riga, where businesses will be able to develop production facilities for offshore wind and onshore wind technologies and components in the future, according to the port. The development of a 30-hectare green industrial area within the Freeport of Riga is set to stimulate further business growth and attract investment to the surrounding region. The planned expansion, encompassing an additional 60-90 hectares, will involve significant infrastructure improvements.
Key development initiatives include the construction of essential engineering networks, increased network capacity, new access roads, and a railway crossing within the port area. Additionally, the port will focus on upgrading its deep-water berths, constructing new logistics infrastructure, and reinforcing the shoreline through dredging and shore protection measures. Kundzinsala, a strategic location within the Freeport of Riga, is a key multimodal hub situated near the main shipping canal.
This reclaimed land offers significant potential for future development. By investing in infrastructure improvements, such as expanding access roads and enhancing port facilities, Kundzinsala can become a thriving hub for logistics and production activities. The Freeport of Riga Authority said its support programme aims to facilitate the establishment of clean and resource-efficient industries, particularly those related to offshore and onshore wind technologies and components.
The port authority expects to complete the development of the new infrastructure by the end of 2029, attracting tenants within the offshore wind and onshore wind sector, in line with the scope of the Strategic Technologies for Europe Platform (STEP). The STEP Regulation aims to reduce the strategic dependencies of the European Union by facilitating the transition of European industry towards digital technologies, net zero emissions and biotechnologies. The Freeport of Riga will be responsible for the maintenance of the infrastructure and will ensure its future sustainability by attracting additional private investment of EUR40 million.
Sign up to the Project Cargo Journal Newsletter
You just read one of our premium articles free of charge
Want full access?
Take advantage of our exclusive offer
References
- ^ See the offer (www.projectcargojournal.com)