First, the Latvian seaport launched a tender for developing a part of its land into a solar park, won by the Lithuanian Saulės Grąža ("Return of the Sun").

The company will invest around €90m over the next five years to erect a solar park of at least 100MW capacity, producing a minimum of 100,000MWh/year.

The Port of Riga will benefit from the investment in two ways: rent and a portion of the electricity, the latter for the use of the authority and port companies.

"By using it strategically, we expect to transform the development of the entire port, including not only development of the largest solar panel park in Latvia and the green hydrogen energy technology center, but also creation of the industrial center of the entire region. Moreover – we believe that creation of a park of this size will also reduce electricity prices for Riga residents in the future," Viesturs Zeps, the Freeport of Riga Board's Chairman, commented.

Next, the Port of Riga - together with numerous Latvian energy, technology and transport companies, academia, and governmental bodies - has signed a memorandum of understanding to develop a hydrogen ecosystem in the country, including production, storage & transportation capacities.