Translated using ChatGPT service.
With the support of the development finance institution ALTUM, the first energy efficiency renovation project for a multi-apartment building in Lielvārde has been completed. The project, valued at €546,000, was implemented under the European Union Recovery Fund program.
The building, consisting of 18 apartments, is located at Edgara Kauliņa Alley 9, Lielvārde. The project was carried out by the association "Lāčplēša nams 9" in collaboration with project manager SIA "SNL." The total project cost was €546,000, of which eligible expenses amounted to €443,800, while ineligible costs were €95,000. A capital discount of €217,500 was granted, with a loan repayment term of 20 years. The expected annual energy savings are projected at 54.5%.
Ieva Jansone-Buka, ALTUM Board Member:
“Every completed project significantly improves the quality of life for the residents of the respective building while helping them save significantly on energy costs. Moreover, it increases the property’s value and ensures high-quality living conditions. The granted capital discount has allowed payments per square meter to decrease from €2.47 to €1.26 for eligible costs.”
Zane Petre, Head of the European Commission Representation in Latvia:
“The Recovery Fund, part of the robust NextGenerationEU initiative, is designed to help Europe recover from crises and become greener, more digital, and more sustainable. Latvia has access to €1.96 billion from this fund for non-repayable investments in reforms and projects that must be completed by autumn 2026. We are truly delighted with every investment aimed at improving the quality of life and raising the welfare of residents. The energy efficiency renovation project in Lielvārde is an excellent example of how thoughtfully EU support can be utilized.”
Selīna Vancāne, Director of the Energy Financial Instruments Department, Ministry of Economics:
“The first of the 166 current projects under this program demonstrates that successful collaboration among residents toward a common goal pays off! The building’s residents will not only save energy and enhance their comfort but also give the building a second life, significantly increasing its value and sustainability. Examples like these set a great precedent for others, and I encourage everyone to start preparing applications for support under the new EU fund programs!”
Sarma Novicāne Lazdāne, Project Manager:
“Since this was the first energy efficiency renovation project for a multi-apartment building implemented under the EU Recovery Fund, all participants—apartment owners, the association, contractors, and project managers—needed additional courage and trust to take the risk. It is truly satisfying to see that the initial calculations regarding monthly payments for residents were accurate, project documentation and changes during construction were managed according to program requirements, and the capital discount calculated by ALTUM was successfully granted.”
Renovation Details
The renovation included foundation and plinth waterproofing and insulation, facade and window recess insulation, window replacement in apartments and stairwells, roof insulation and renewal, installation of a roof hatch, and insulation of the basement ceiling and ground-floor partitions. The heating system was modernized, with radiators equipped with allocators and thermostats, towel dryers installed, ventilation ducts cleaned, and windows fitted with air vents. Additionally, a cosmetic renovation of the stairwell was performed, and a new perimeter plinth was installed around the building.
Program Achievements
Since the EU Recovery Fund-financed program opened in December 2022, a total of 168 projects have been submitted, amounting to a total project value of €88 million. The majority of applications come from the Riga area (52%), followed by Kurzeme (21%), Vidzeme (16%), Zemgale (6%), and Latgale (5%). The average planned energy savings for insulated buildings under the program is approximately 39%.