The Port of Riga in cooperation with investors from Ukraine will establish the first Baltic-scale production of renewable fuels – HVO (hydrotreated vegetable oil) and SAF (sustainable aviation fuel) products.
According to Port of Riga, the new production of renewable fuel is to be based on innovative technologies that enable the creation of environmentally friendly and competitive fuel alternatives from a variety of natural vegetable oil sources which to be used as the main biofuel feedstock.
The planned capacity of the plant will be approximately 236,000 mt of feedstock per year, of which 93,000 mt of HVO and 87,000 mt of SAF are to be produced.
The total cost of the new renewable fuel project is estimated at up to €120m and it could be completed in 20 months since all the equipment and technology is already available.
The Latvian minister for climate and energy Kaspars Melnis visited on November 26 the Port of Riga with the aim to have a closer look at the project implemented by SIA PARS TERMINALS, to inspect the planned site of the plant in Kundziņsala, and to discuss other renewable energy projects implemented in the port.
The minister said during his visit that “Sustainable thinking, by creating a new, long-term demand renewable fuel production facility in the Freeport of Riga, is an economically forward-looking way to increase Latvia’s influence as a sustainable energy producer in the Baltics in a context of declining transit cargo volumes in the region.
“The renewable fuel plant will strengthen energy independence, create 120 highly skilled jobs, while providing Latvian farmers with stable demand for energy-intensive crops and helping Latvia to meet its climate neutrality goals.”
Armands Sadauskis, owner of SIA PARS TERMINALS, added that “The new plant is a step in the modernisation of our business. With Ukrainian partners we will ensure economic independence from foreign supplies, thus shortening logistics chains and obtaining high added value products that are currently only imported in the Baltics.”
