Riga

About

While the aim of the project, named ‘REEF’, was ambitious – renovating thousands of buildings – the concept was solid. However, the main challenge lay in coordinating various stakeholders upon whom the success of the investment concept relied. 

Implementation hurdles were evident, particularly with dependencies on decisions from entities like the Ministry of Economics. Internally, the municipality focused on two key aspects within the project: developing a pipeline of buildings for energy efficiency fund applications and conducting essential research and documentation. 

Funding for these activities primarily came from the municipality’s own resources, aiming to bridge the gap between concept and practical application. The municipality intends to invest €30 million to start the renovation of selected buildings, which will serve as both a pilot and proof of concept. However, with over 6,000 buildings needing renovation and a national renovation program in place until 2027, alternative funding options such as establishing an ESCO company have been deemed imperative beyond that point.

Lear more about Riga's experience in the EUCF Impact Report.