Title: Plywood Processing Company “Troja” Expands Renewable Energy Production with Solar Panel Park
Date: June 20, 2023
Plywood processing company “Troja,” a subsidiary of “Latvijas Finieris,” has announced plans to significantly expand its production capacity of renewable energy. The company aims to achieve this by installing over 400 solar panels with a total capacity of 164 kW at its factory in Riga. The project is being co-financed by the Development finance institution Altum as part of the European Union Recovery Fund program. Altum has granted a loan with a capital discount of 40 thousand euros to support the initiative.
The project is being implemented in collaboration with SIA “PV Service,” and it has a total cost of 209 thousand euros. Construction began in February 2023, and the project is expected to be completed by August 2023.
SIA Troja is among more than 100 companies that participated in the first round of the Energy Efficiency Program of the Recovery Fund. The company received an invitation to apply for a loan with a capital discount, highlighting its commitment to gradually and strategically transition towards self-generated green electricity. By reducing energy costs and the company’s CO2 footprint, Troja aims to strengthen its energy independence with the support of available state support instruments.
The funding for the creation of solar power plants is currently being requested. In the first round of the program, approximately 80% of the projects were focused on supporting solar energy production, with a total installed capacity of over 45 MW. These projects are expected to result in an annual reduction of greenhouse gases by more than 5 thousand tons. The acceptance of loan applications from the participants of the first round ended on June 3. However, project applications for the second round of the program, which includes renewable energy resource projects for self-consumption and energy efficiency improvement projects, will be accepted by Altum until July 19.
Once installed, the solar panels on the roof of the production facility will generate 139,650 kWh of green energy per year. This initiative will contribute to saving 15,221 tons of CO2 emissions annually. Moreover, 80% of the energy produced will be used for self-consumption by SIA “Troja.”
This expansion of renewable energy production is part of Troja’s ongoing efforts to adopt sustainable practices. In 2021, the company installed 506 solar panels with a total capacity of 222 kW on the roof of its production facility. Additionally, electric charging stations were installed, and several electric cars were purchased. Troja plans to continue its commitment to renewable energy by purchasing another electric car with the support of Altum by the end of the year.
The implementation of the solar panel park at Troja’s factory in Riga demonstrates the company’s dedication to reducing its environmental impact and embracing clean energy solutions. By leveraging the support of the European Union Recovery Fund program and Altum, Troja is making significant strides towards a greener future.
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The solar panel park at Troja’s factory in Riga will play a significant role in the company’s renewable energy production. With over 400 solar panels, the park will have a total capacity of 164 kW, providing a substantial amount of clean and green electricity. The installation of these panels is expected to reduce the company’s reliance on non-renewable energy sources and decrease its carbon emissions.
Co-financed by Altum, a development finance institution, the project is part of the European Union Recovery Fund program. Altum has granted a loan with a capital discount of 40 thousand euros to support Troja’s initiative. This financial support demonstrates the commitment of both Troja and Altum to promote sustainable energy practices and contribute to the EU’s goals of reducing greenhouse gas emissions.
The project is being implemented in collaboration with SIA “PV Service,” a company specializing in solar panel installations. This partnership ensures the expertise and experience required to successfully complete the project within the specified timeline. Construction for the solar panel park began in February 2023 and is expected to be completed by August 2023.
By investing in renewable energy, Troja is positioning itself as a pioneer in the plywood processing industry. The company’s participation in the first round of the Energy Efficiency Program of the Recovery Fund highlights its dedication to adopting sustainable practices. The installation of the solar panel park not only benefits Troja’s operations but also contributes to Latvia’s overall energy transition.
With reduced energy costs and a decreased carbon footprint, Troja’s renewable energy production will have positive environmental and economic impacts. The company’s commitment to self-generated green electricity aligns with the global shift towards cleaner energy sources and demonstrates its responsibility towards creating a more sustainable future.
Overall, the expansion of Troja’s renewable energy production with the installation of a solar panel park showcases the company’s dedication to sustainability and contributes to the ongoing transition to clean energy in the plywood processing industry.
