AS RĪGAS SILTUMS will invest 7 million euros of financing from OP Corporate Bank plc in the development of Riga's heating plants.
OP Corporate Bank plc Latvian branch has granted EUR 7 million in long-term financing to AS RĪGAS SILTUMS. The funds are intended for the implementation of the company’s regular investment projects, which will contribute to providing safe and sustainable heat supply for the residents of Riga.
Most of the financing will be directed toward investments in Riga's heat generation plants. For example, a new 49 MW electrode boiler will be installed at the “Imanta” heat plant. The company will also invest in other heating plants across Riga, the development of the centralized heat supply system, and automated gas boiler houses.
“We are pleased to support our long-term partner AS RĪGAS SILTUMS in its investment plans, helping to ensure a safe, efficient, and modern heat supply for the residents of the capital. It is especially important that these investments also promote the company’s sustainable growth and gradual transition toward more environmentally friendly solutions,” says Elmārs Prikšāns, General Manager of OP Corporate Bank plc Latvian Branch.
Vineta Kutkēviča, Member of the Management Board of AS RĪGAS SILTUMS, adds: “The allocated financing will allow us to continue investing in Riga’s heating infrastructure. These investments strengthen the security of heat supply, increase energy efficiency, and support the transition to more sustainable, environmentally friendly solutions. Our goal is to ensure that Riga’s residents continue to have access to reliable, modern, and environmentally responsible heat supply.”
About AS RĪGAS SILTUMS
AS RĪGAS SILTUMS is the largest district heating company in Latvia, supplying heat energy to approximately 70% of Riga’s residents and business customers. The company’s strategic goal is to ensure sustainable, safe, and competitive heat supply by modernizing heat networks, expanding the use of renewable energy sources, and strengthening its role as an energy platform within the urban environment.
The company’s mission is to develop and enhance the city’s centralized energy potential, bringing it into the everyday lives of people and businesses.
Currently, 77% of the heat energy supplied by AS RĪGAS SILTUMS is used for heating residential buildings and preparing hot water. The total length of the company’s heat networks is approximately 846 kilometers, of which 768 kilometers are owned by AS RĪGAS SILTUMS.
About the Latvian branch of OP Corporate Bank plc
OP Corporate Bank plc is the central bank of OP Financial Group, Finland's largest financial services provider. It started its operations in Latvia in 2012 and is currently one of the largest banks in Latvia in terms of corporate loans. The Latvian branch of OP Corporate Bank plc provides financial services to leading companies in Latvia and plays an important role in the long-term development of the country and the region