NIB
Summary
The Nordic Investment Bank (NIB) and the heating utility Rīgas Siltums have signed a EUR 18 million loan to finance the company’s investments in network infrastructure upgrades.
The fifteen-year loan supports the company’s investment programme in district heating network expansion and renovation during 2023–2024. The programme’s total investment costs amount to EUR 24 million.
“We are pleased that our transformation aimed at improving and developing the city’s centralised energy infrastructure is backed by strong support from the Nordic Investment Bank. This funding will contribute to the transition by utilising the potential of smart energy solutions in network development and expansion, creating a positive push towards achieving Latvia’s climate neutrality goals,” says Rīgas Siltums' Board member Vineta Kutkēviča.
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