On 13 March 2025, ENERGATE participated in an important online meeting hosted by the Riga Planning Region (Latvia), bringing together key representatives from major Latvian financial institutions and the Association of Commercial Banks. The discussion focused on strengthening collaboration and presenting the possibilities offered by the ENERGATE platform.
The meeting introduced participants to the ENERGATE project’s goals, planned activities, and platform services, followed by a live demonstration covering registration, financier profiles, and the platform’s matchmaking features.
Key Outcomes of the Meeting
During the discussion, financiers shared their views on the current landscape of financing energy-efficiency (EE) renovation projects:
- A lack of reliable data remains a major barrier, particularly for assessing credit risks and borrower reliability.
- Public sector building renovation is generally not a main target for commercial bank financing, as these institutions usually rely on the State Treasury or public support schemes.
- While the ENERGATE platform provides valuable information on planned EE measures, banks require additional borrower-specific data, such as guarantees and repayment capability.
- Banks currently use standard mortgage and loan products for EE renovations; no dedicated EE financial instruments are available in the Latvian banking sector.
- Each financing case is evaluated individually, with attention to collateral, borrower co-financing, and overall project viability.
- Banks do not administer grants or subsidies; these are managed by national agencies and institutions.
- Green Bonds are not yet issued through commercial banks, although the City of Riga is progressing towards issuing Green Bonds for sustainable investment projects.
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