A plywood processing company associated with "Latvijas Finieris," SIA "Troja," plans to significantly expand its renewable energy production capacity by installing over 400 new solar panels with a total capacity of 164 kW at its Riga factory, in addition to the existing ones. The project is co-financed by the Development Finance Institution "Altum" under the European Union Recovery Fund program, with a loan of EUR 40,000 provided with a capital discount.
The project is being implemented in collaboration with SIA "PV Service" and has a total cost of EUR 209,000. Construction of the project started in February 2023 and is expected to be completed by August 2023. The solar panels installed on the factory roof are expected to generate 139,650 kWh of green energy annually. The creation of the solar panel park will help save 15.221 tons of CO2 emissions per year. In annual terms, 80% of the generated energy will be used for SIA "Troja" self-consumption.
"SIA 'Troja' is one of more than 100 companies that participated in the first round of the Recovery Fund’s energy efficiency program and received an invitation to apply for a loan with a capital discount," says Līga Mellēna, Head of the Enterprise Energy Efficiency Department at "Altum." She emphasizes that "Troja" is an excellent example of gradual and purposeful progress towards producing its own green electricity, reducing energy costs, the company’s CO2 footprint, and continuing to strengthen its energy independence by utilizing available government support instruments.
"Currently, there is high demand for financing for solar power stations – in the first round of the program, approximately 80% of the projects were aimed at supporting solar energy production, with a total installed capacity of more than 45 MW and an expected total reduction of greenhouse gas emissions of more than 5,000 tons per year," notes Līga Mellēna.
"In recent years, the company has implemented several renewable energy measures," says Modris Krauja, Technical Director of SIA "Troja." "For example, in 2021, we installed 506 solar panels (Phase 1) on the factory roof with a total capacity of 222 kW, set up electric vehicle charging stations, and purchased several electric vehicles. By the end of the year, with Altum's support, we plan to purchase another electric vehicle."
SIA "Troja" specializes in birch plywood processing. The company also offers finished birch plywood products such as road signs, office furniture, acoustic panels, and rocking horses. Last year, SIA "Troja" had a turnover exceeding EUR 31 million, and the company employed an average of 171 people.
