The Riga Free Port Authority has signed an agreement with the first investor to develop a wind technology production complex on Kundzinsala island in Riga — a step toward creating an integrated green industry cluster in the Riga port, reports LSM citing LETA.
The lease right on Kundzinsala was awarded to an international investor group comprising companies working in renewable energy, metallurgical and wind technology component manufacturing, as well as financial and strategic investors.
The lead partner of the investor group is the Lithuanian renewable energy and technology innovation developer Vilniaus mokslo ir inovacijų centras (VMIC). VMIC is the majority shareholder of Latvian wind technology components manufacturer MADESTA — a supplier to wind turbine manufacturers including Vestas, Siemens Gamesa, Nordex and others.
The investor group also includes the Baltic private investment fund Lords LB Asset Management.
The investment project envisages the production of wind technology components — towers, flanges, nacelles, rotors and other assemblies — as well as their raw materials and steel semi-finished products. The project is to be completed by 2032. Investment volume: €160–250 million. The project is expected to create up to 300 direct jobs and around 800 indirect jobs in the Riga region.
