By the end of 2019, the team of our partner RTU finalized the report assessing the status quo of climate and energy investment in Latvia for the year 2018. The report features a map illustrating the volume of climate and energy investment flows starting from the sources and intermediaries of investment, through financial instruments used, and recipient sectors. The report focuses on energy efficiency and renewable energy projects in the energy sector, buildings, and businesses.
Kamenders A., Rochas C., Novikova A.Investments in Energy Efficiency and Renewable Energy Projects in Latvia in 2018Riga Technical University (RTU) 2019.
The climate investment flowchart developed by our project makes it possible to track investment flows in energy efficiency and renewable energy projects in Latvia in 2018. In this report we wanted to examine how the projects were funded, who were the biggest investors and how much and in which sectors Latvia was invested in 2018.
Analyzing the investments made, it is estimated that in 2018 at least 190 million euros were invested in energy efficiency measures for buildings and companies, while 41 million euros were invested in measures for renewable energy (including 21.1 million euros in Daugava HPS).
EU funds play an important role in financing climate projects. Currently, EU funds are mainly used in the form of grants for investments in state and municipal building renovation projects. Given the high share of grants in project finance, private investment was relatively low in 2018, accounting for 29% of total investment, while 42% came from EU funds and 29% from state and municipal funds, including revenue from quota trading.
IKEM – Institute for Climate Protection,
Energy and Mobility e.V.