Three international investors will develop wind technology production facilities on Kundziņsala

Over the course of the year, three international investors have been attracted while working on the European Union co-financed project “Creation of Port and Logistics Infrastructure for the Development of Wind Technology Production at Kundziņsala” at the Port of Riga. The companies plan to make significant investments in the offshore and onshore wind technology production facilities, their components, and related industries to be developed in the Kundziņsala area, creating more than 2,000 new jobs in the future. In March of this year, the Freeport of Riga Authority signed investment agreements with two of the investors attracted tin the framework of the project – UAB Eurostat 5 and Solidior Power Ltd.

Public funding for the project “Creation of Port and Logistics Infrastructure for the Development of Wind Technology Production at Kundziņsala” consists of co-financing from the European Regional Development Fund, the Freeport of Riga Authority, and the state, totaling 86 million euros, which is allocated for infrastructure development. Meanwhile, the three investors involved have committed to investing more than 700 million euros in the construction of production facilities in several phases by 2034.

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Originally published on 7 May

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