The Freeport of Riga Authority and the Lithuanian company SNG Solar have signed an agreement on the lease of land in the Port of Riga in the Spilve Meadows area for the development of a solar energy park.
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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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.
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