The Latvian seaport and the Riga-based company will conduct research into setting up a green hydrogen factory in Ventspils.
The agreement also includes granting PurpleGreen Energy C the building rights on a ten-hectare plot for erecting the facility.
The parties say the factory has the potential to produce products using green hydrogen as feedstock.
"Ventspils has all the advantages to develop into a future energy production and export hub, which in turn would be a great competitive advantage for establishments to start and expand their operations here. Currently, the Freeport of Ventspils is purposefully developing the renewable energy cluster in Ventspils, and the production of green hydrogen is one of the most important cornerstones in this complex of diverse activities. We are satisfied that "PurpleGreen Energy C" chose the Freeport of Ventspils as a place for the development of its project, and we are ready for active and effective cooperation," Igors Udodovs, Deputy CEO of the Freeport of Ventspils Authority, commented.
Māris Daniševskis, Lead PtX Project Manager, PurpleGreen Energy C, added, "We see great potential for Latvia to become a renewable energy export country. One of the most suitable ways to export renewable energy is to convert it into the form of renewable electricity molecules and further export this energy using the existing infrastructure of the Freeport of Ventspils, as well as by collaborating with businesses operating in Ventspils - for instance, in the form of e-methanol or "green" ammonia. We thank the Freeport of Ventspils for the successfully initiated cooperation, and we are working on the realization of this project with great optimism."
According to Our World in Data, Latvia consumed around 40TWh of energy in 2022, of which fossil fuels accounted for 73%, while renewable sources for the remaining part. Out of the 5.85TWh of electricity produced in the country, fossil sources accounted for almost 28% and renewables for 72%.
Whereas Latvia has a few offshore wind energy development zones, only the 1,000MW Kurzéme project (near Liepāja) is in the concept/early planning stage.
Photo: Port of Ventspils