Three investors will invest over 700 million euros in wind technology production in Kundziņsala 0 8

The investment agreement with the first investor, SIA "Latvijas atjaunojamās enerģijas projekti," was signed in December last year, and in March of this year, the Riga Port Authority signed investment agreements with two more companies - the Lithuanian capital company "Eurostat 5" and the Finnish capital company "Solidior Power."

According to the authority, the investors plan to develop the production of offshore and onshore wind technologies and their components in the Kundziņsala area. In total, it is expected to create 2,000 new jobs.

Public funding for the project "Creating the necessary port and logistics infrastructure for the development of wind technology production in Kundziņsala" consists of funding from the European Regional Development Fund (ERDF), funding from the Riga Port Authority, and state co-financing totaling 86 million euros, which is intended for infrastructure development, while the three attracted investors have committed to invest over 700 million euros in production creation in several stages by 2034.

The goal of the project is to strengthen the critically important production of offshore and onshore wind technologies for supply chains in the European Union by creating logistics infrastructure on an area of 30 hectares with adjacent territories totaling 76 hectares, which will be leased to companies producing wind technologies and their components.

The Riga Port Authority has already begun work on creating the necessary port and logistics infrastructure in Kundziņsala. A deep-water berth with increased load capacity, cargo logistics sites, engineering networks, a new access road, and railway crossings will be built here. New logistics infrastructure will also be created, existing infrastructure will be reconstructed, coastal fortifications will be built, and the water area will be deepened.