Three Investors Plan to Invest More Than €700 Million in Wind Technology Manufacturing on Kundziņsala

Three international investors are planning to invest more than €700 million in the development of wind technology manufacturing facilities on Kundziņsala in Riga by 2034, according to the Freeport of Riga Authority. The large-scale industrial initiative is expected to create more than 2,000 new jobs and strengthen Latvia’s position in Europe’s renewable energy supply chain.

The project aims to support the European Union’s strategic goal of expanding critical onshore and offshore wind technology manufacturing capacity. Plans include the development of 30 hectares of port logistics infrastructure and adjacent territories totaling 76 hectares, which will be leased to manufacturers of wind technologies, components, and related industries.

The first investment agreement was signed in December 2025 with SIA “Latvijas atjaunojamās enerģijas projekti”. The company plans to establish production facilities for wind technology components, including towers, flanges, nacelles, rotors, raw materials, and steel semi-finished products, creating an integrated green industrial cluster in the Port of Riga.

This phase of the project is expected to attract investments ranging from €160 million to €250 million and create up to 300 direct and approximately 800 indirect jobs.

In January this year, a second investor selection round was launched, resulting in two additional investment agreements signed at the end of March with Finnish company “Solidior Power” Ltd. and Lithuanian company UAB “Eurostat 5”.

The “Eurostat 5” project will establish a wind technology assembly and logistics center on Kundziņsala to serve both onshore and offshore wind projects. The facility will provide manufacturing, assembly, technical integration, testing, transportation preparation, and logistics services for wind technology components.

The Freeport of Riga Authority noted that the project will strengthen Latvia’s role as a regional wind energy hub while supporting the European Union’s decarbonization goals. The project also aims to encourage cooperation with international manufacturers and promote the use of components and equipment produced in Latvia.

The “Eurostat 5” project is planned through 2034 and is expected to create between 150 and 220 jobs after full implementation. The facility is also projected to handle at least 150,000 tonnes of cargo annually, contributing significantly to the Port of Riga’s cargo turnover.

Meanwhile, Finnish energy storage technology company “Solidior Power” Ltd. plans to develop a large-scale battery manufacturing ecosystem on Kundziņsala. The project is considered one of the most significant Nordic-Baltic investments in energy storage technologies this decade and includes the strategic transfer of U.S. battery manufacturing technologies to the European market.

The company plans to develop battery production capacity reaching 6.4 GWh by 2031. The project will be implemented in four phases between 2026 and 2031, with the first phase involving approximately €112 million in investments between 2026 and 2027.

Upon full completion, the “Solidior Power” project is expected to employ approximately 1,300 to 1,500 people.

At the same time, the Freeport of Riga Authority continues developing the necessary port infrastructure. By the end of 2029, the authority plans to construct a high-capacity deep-water berth, cargo logistics areas, engineering networks, a new access road, and railway crossings on Kundziņsala. Additional infrastructure upgrades will include shoreline reinforcement, reconstruction of existing infrastructure, and dredging works in the port aquatory.

The project “Development of Port and Logistics Infrastructure Necessary for Wind Technology Manufacturing on Kundziņsala” is being implemented with support from the European Union’s Strategic Technologies for Europe Platform (EU STEP). Total investments in port infrastructure are estimated at approximately €86 million, including €54.86 million from the European Regional Development Fund and €9.68 million in Latvian state co-financing.

To ensure transparency and adherence to good governance principles throughout the implementation process, the Freeport of Riga Authority has also involved the anti-corruption and transparency organization “Sabiedrība par atklātību – Delna” in the project’s oversight.