Energy, Investments, Latvia, Legislation
International Internet Magazine. Baltic States news & analytics
Tuesday, 09.06.2026, 06:38
Funding agreement for TEC-2 development in Riga signed
Print version |
|---|
As the business portal Nozare.lv was informed by Latvenergo communications director Andris Siksnis, Latvenergo will receive a loan of EUR 150 million (LVL 105.42 million), which will make it possible to begin the construction of a new power unit over the next few months.
Another loan agreement was signed in October 2009 with the European Investment Bank, who are providing EUR 100 million (LVL 70.2 million) for the project, writes LETA.
"It is important for us to be efficient, modern, competitive, and at the same time not to forget about the environment. All these advantages will be provided with the conclusion of the Riga TEC-2 reconstruction project, which will be possible thanks to this loan. Our energy portfolio will be the envy of many of our competitors, and many institutions and creditors can be proud of being our partners," said Latvenergo Chairman Karlis Mikelsons.
The full completion of the TEC-2 modernization project is planned for 2013.
«The Baltic Course» Is Sold and Stays in Business!
