City of Riga

Riga is the capital of the Republic of Latvia and the largest city in the Baltic States.

Riga’s sustainable energy action plan foresees the renovation for 6,000 residential buildings for a total of 12 million m².

The City Council decided to support the setting up and operation of energy service companies (ESCOs) in Latvia. They notably ensure that funds are available for ESCOs’ operations. The overall objective is to provide loans to associations of owners and to other authorised persons for up to 20 years with low and fixed interest rates (up to 3 %, which is necessary to ensure operation of the fund) amongst other measures. To succeed in delivering the expected results by 2020, Riga created a political working group involving both political majority and opposition in order to establish a revolving fund.