SIA Troja to significantly expand its solar panel park with co-financing from Altum
28.06.2023
SIA Troja, a plywood processing company affiliated to Latvijas Finieris, plans a major expansion of its renewable energy generation capacity by installing more than 400 new solar panels, adding a total of 164 kW to the existing capacity at its Riga mill. The project is co-financed by the Altum Development Finance Institution as part of an EU Recovery Fund programme, awarding a loan with a capital discount in the amount of EUR 40,000.
The project takes place in conjunction with SIA PV Service with a total cost of EUR 209,000. The construction for the project began in February 2023 and is expected to end in August 2023. The solar panels installed on the roof of the mill are planned to generate 139,650 kWh of green energy per year. The solar farm will prevent 15,221 tonnes of CO₂ emissions every year. 80% of the energy produced across the year will be consumed by SIA Troja.
“SIA Troja is one of over 100 companies that participated in the first round of the Energy Efficiency Programme of the Recovery Fund, receiving an invitation to apply for a loan with a capital discount”
Līga Mellēna, Head of the Energy Efficiency Division at Altum.
She emphasised Troja as an excellent example of a gradual and focused move towards internally-generated green power that reduces the company’s energy costs, its CO₂ footprint, and improves its energy independence through the available government assistance instruments.
“Funding for solar power plants is in demand right now. In the first round of the programme, some 80% of the projects were for assistance in solar power with a total planned capacity of more than 45 MW, and an expected reduction in total annual greenhouse gas emissions of more than 5000 tonnes.”
Līga Mellēna, Head of the Energy Efficiency Division at Altum.
“Over the past few years, our company has implemented a few renewable energy measures.”
“For example, in 2021, we set up 506 solar panels (round 1) with a total capacity of 222 kW on the roof of the mill, we installed EV charging stations, and also bought a few electric vehicles. By the end of the year, we plan to buy another electric vehicle, with assistance from Altum.”
Modris Krauja, CTO of SIA Troja.
The main business of SIA Troja is the processing of Riga Wood birch plywood. The company also offers pre-made birch plywood products, including road signs, office furniture, acoustic panels, and rocking horses. Last year, Troja had a turnover of more than 31 million euros and employed an average of 171 people.
