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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The Estonian Defence Industry Cluster today introduced the Baltic Drone Wall concept for the first time, which aims to strengthen the eastern border of the European Union and NATO. It is a cooperation initiative between Poland, Finland, Estonia, Latvia and Lithuania, which is currently joined by DefSecIntel Solutions, Rantelon, Marduk Technologies, Lendurai, Hevi Optronics, Frankenburg Technologies and TELEKONTA.
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Originally published on 28 Feb
Federal Express Corporation, the world’s largest express transportation company, has officially opened a new sorting facility in Vilnius. The new facility, being built as Lithuanian companies continue to show strong aspirations for international trade, provides businesses with improved cross-border e-commerce capabilities and streamlined logistics operations.
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Originally published on 27 Feb
In the coming years Ignitis ON, the leading EV fast-charging network, will become even larger and more convenient for EV drivers. The European Union (EU) made a decision to allocate EUR 16 million for the charging network’s expansion. The grant will help fund the installation of 500 new charging points. It is the largest-ever allocated sum to a charging network operator in the Baltics.
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Originally published on 27 Feb
The Baltic Sea plays an increasingly important role in the European energy sector, contributing both to energy security and the ongoing energy transition in the region. At ORLEN, we are committed to initiatives focused on this vital basin and fostering discussions on how to fully harness the Baltic Sea’s potential for the benefit of businesses and societies.
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HYBRIT’s pilot project for hydrogen gas storage has now been completed and reported to the Swedish Energy Agency. The results show that it is technically possible to store fossil-free hydrogen gas for producing fossil-free iron and steel on an industrial scale. This can also reduce the variable operating costs of hydrogen production by up to 40 per cent.
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Originally published on 27 Feb
In the Estonian-Latvian border region, public transport services that once provided convenient travel options for residents of both countries have been absent for several decades. The ROCC project, supported by the Interreg Estonia-Latvia Programme 2021-2027, is now approaching a significant milestone—the launch of two pilot bus routes. The Valga-Valka and Ikla-Ainaži (Salacgrīva) bus lines are expected to begin operating in the spring of 2025, offering new mobility opportunities for border residents and travelers alike.
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Originally published on 25 Feb
OpenAI is proud to work with Estonia’s government on a world-first initiative to provide all students and teachers in the secondary school system with access to ChatGPT Edu, a version of ChatGPT customized for education systems, starting with 10th and 11th graders by September 2025.
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Originally published on 25 Feb
A new solution has emerged in Latvia’s defence technology sector: the unmanned ground platform developed by the Latvian startup Natrix is a universal, modular solution that can be adapted for various applications. Currently, the Natrix platform’s primary tasks are delivering ammunition and food to the frontline and on the return journey evacuating the wounded and deceased, thus significantly reducing the risk of casualties for rescuers who previously had to evacuate the injured manually.
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Originally published on 25 Feb
Are you a VR/AR/XR company or a game developer in Finland, Sweden or Estonia looking to accelerate your growth?
The CDG-Booster program invites you to an inclusive community of peers and industry experts to help your company speed up growth, avoid business pitfalls, save resources, find your strengths and learn how to exploit them.
Through this program, your company will become it’s next, improved version of itself and you will journey the path to become a smarter and better entrepreneur.
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Originally published on 21 Feb
Over the course of 2024, the European Investment Bank (EIB) and the European Investment Fund (EIF) continued to support Sweden’s economic development and climate initiatives through substantial investments.
The EIB Group’s financing during the year amounted to around SEK 22 billion, of which more than 60% went to climate measures and environmental sustainability. This money supported wind power, energy-efficient housing and industrial electrification, among other projects.
These investments are estimated to have kept 32 000 jobs in Sweden.
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Originally published on 20 Feb