OREANDA-NEWS. Latvenergo AS unveiled one of its largest and most significant investment projects - the new Riga TEC-2 with the reconstructed second power unit of the combined heat and power plant (TEC-2/2). From now on, the new plant and the previously reconstructed Riga TEC-1 and Riga TEC-2/1 can guarantee so-called base load capacity, almost entirely supporting Latvia's electricity consumption.

The TEC-2 opening event was attended by Aris Zigurs, Latvenergo AS Chairman of the Management Board and Chief Executive Officer, Maris Kunickis, Latvenergo AS Member of the Management Board and Chief Operating Officer, Ergil Ersu, Chairman of the GAMA Holding, and Ugur Yurdakul, Member of the Board at the GAMA Holding.

After the reconstruction, the total cogeneration thermal energy capacity of TEC-2 (both power units) is 544 MW, while its electrical capacity in the cogeneration mode is 832 MW and in the condensation mode - 881 MW. With its water boilers, the total thermal energy capacity of Riga TEC-2 reaches 1124 MW.

This project has accomplished reconstruction of Riga TEC-2 - one of the largest and most significant investment projects in the history of Latvia and Latvenergo AS.

The new power plant is environmentally friendly - it has minimised the amount of CO2 emissions per unit of energy generated, with the important added advantage of high efficiency. The new power unit at TEC-2 is capable of generating three times as much electricity per unit of heat compared to the old power units built in the 1970s. It is also notable that the reconstructed Riga CHPPs guarantee base load capacities and ensure reliable electricity supply in Latvia and the Baltic States, having a stabilising influence on prices in the region.

Combined heat and power plants are an essential element of the Latvenergo AS generation portfolio, allowing the Group to maintain a stable electricity trader's position on the Baltic market. In an open electricity market environment, CHPPs have the advantage of flexible response to changes in gas and electricity prices on the market; they enable an economically sound choice between generating electricity and purchasing it on an exchange. Availability of combined heat and power plants also mitigates the risk of electricity price increase.

The Riga TEC-2 is intended to generate heat in the cogeneration mode for the district heating system of the part of Riga on the right bank of the Daugava. Cogeneration is the most efficient mode of generation, allowing generating thermal energy and electricity simultaneously. The availability of resources necessary for generating such volumes of heat and the low CO2 emissions per unit of energy generated are the factors marking out gas cogeneration as the most effective mode of generation in our region, which also contributes to Latvia's energy self-sufficiency and independence.

The general contractor for the Riga TEC-2/2 project was Turkish company GAMA GUC Sistemleri Muhendislik ve Taahhut, which designed ??the new TEC-2 generation facility, supplied the equipment and performed installation and commissioning works.