CIS Liepaja, an umbrella organisation gathering Norwegian and Latvian companies, and Vindr Latvia, a developer of onshore wind energy projects, have signed a memorandum of understanding to explore long-term energy supply for a new green hydrogen production facility in Liepāja.
The investment, valued at €550 million, will produce around 150,000 tonnes of green hydrogen annually. Vindr Latvia is to connect 150 megawatts from its currently 900-MW portfolio to feed the production.
Overall, CIS Liepaja aims to attract more than €1.2 billion in EU investment, while projected revenues upon full project development will exceed €600m per year.
"Green hydrogen is not just an energy carrier - it is becoming one of the cornerstones of the green transition. Global interest in renewable resources is growing, and this opens opportunities for Latvia to play an important role in the future clean-energy economy," underscored Tor Arne Pedersen, CEO and Board Member of CIS Liepaja.
He furthered, "In projects of this scale, close cooperation among all participating parties is crucial. We greatly appreciate both local and national support for the implementation of this project. Predictable regulations, stable governance, access to renewable resources and proximity to continental European markets, combined with an industrial strategy for the use of green hydrogen, create an attractive environment to develop one of Europe's most competitive and sustainable hydrogen sectors here."
Jan-Olav Øderud, CEO and Co-founder of Vindr, also commented, "Vindr is proud to support Latvia’s transition to clean, locally produced electricity. Our wind parks in Kurzeme and Latgale will provide reliable, certified renewable energy, create new jobs, and promote regional economic development, while strengthening energy security and reducing import dependence. We are currently developing a renewable energy project portfolio of 900MW in Latvia, and this is the first agreement in the country providing for a 150MW supply for green hydrogen production. Through long-term cooperation with CIS Liepaja, we are helping to develop new industries, such as hydrogen production, and contribute to a stronger, greener, and more competitive Latvia. Together, we are transforming renewable energy into a driving force for sustainable growth and prosperity."
Uldis Hmieļevskis, Member of the Liepāja City Council and CEO of the Liepāja Special Economic Zone, said, "We are pleased that this project is being implemented in Liepāja - a city that is rapidly developing and moving towards its ambitious goal of becoming climate-neutral by 2030. We have been working together on this project for several years, and much has been accomplished. The signing of the MoU is a significant step towards project implementation."
Kaspars Melnis, Latvia's Minister for Climate and Energy, summed up by saying, "Energy independence and energy security are important strategic priorities for our government. It is essential to develop energy production projects with reliable partners committed to operating in Latvia for decades. We value energy independence and affordable energy for residents and businesses, which is why we support the joint project of CIS Liepaja and Vindr."
Photo: Vindr