Formation au développement et au financement de projets d'énergies renouvelables à Riga

Présentation du programme

Renewable power is now the lowest-cost option for most new generation. IRENA’s Renewable Power Generation Costs in 2024 reports that 91% of newly commissioned utility-scale renewable capacity produced electricity more cheaply than the cheapest new fossil fuel alternative. The global weighted average cost was USD 0.034 per kWh for onshore wind and USD 0.043 per kWh for solar PV, and 582 GW of renewable capacity was added worldwide in 2024.

Low technology costs do not make a project bankable on their own. Developers and public agencies still have to secure land and permits, grid connections and revenue contracts, manage environmental and social risks and present a financial structure that lenders accept. IRENA notes that financing costs have pushed up costs for some technologies, which makes structuring skills even more important.

Latvia shows these issues in practice. Renewables supplied 43.2% of the country’s gross final energy consumption in 2023, according to the Official Statistics Portal, and the national target is 57% by 2030. Recent transactions include the 112 MW Smiltene wind farm, financed through a EUR 92 million package from the EBRD, the Nordic Investment Bank and Luminor Bank, and a 329 MW programme of hybrid solar parks with battery storage developed by Sunly and co-financed by the EBRD, the EIB and SEB.

This five-day Renewable Energy Technology Project Development and Finance Training in Riga takes participants through the full project cycle: market and policy context, site and permitting work, contracts, financial modelling, debt structuring, risk allocation and development finance. The final day combines a technical visit with a capstone investment committee exercise.

Throughout the week, participants work with real Baltic cases, including the Latvia-Estonia ELWIND offshore wind project and the grid investments that allowed the Baltic states to synchronise with the Continental European grid in February 2025.

Le programme renforce les capacités institutionnelles en matière de

• Screening and prioritising renewable energy project pipelines
• Assessing wind, solar, hydro, biomass and storage options
• Managing site selection, land rights and permitting
• Planning grid connection and working with transmission and distribution operators
• Running public consultation and building local acceptance
• Applying environmental and social standards, including the IFC Performance Standards
• Structuring special purpose vehicles and project contracts
• Negotiating power purchase agreements and other revenue contracts
• Building and reviewing project finance models
• Sizing and sculpting debt to cash flow
• Allocating construction, operating, market and regulatory risks
• Using guarantees and blended finance from development banks
• Preparing information memoranda and lender due diligence
• Designing public support schemes and auctions

The programme balances technical, financial and institutional content, so that developers, lenders and public officials leave with a shared view of what a bankable project needs.

The Growing Importance of Renewable Energy Project Finance

The Baltic states completed their synchronisation with the Continental European grid on 9 February 2025, after disconnecting from the Russian-controlled system. Latvia’s transmission system operator, AS Augstsprieguma tīkls (AST), reports that it upgraded or rebuilt more than 500 km of high-voltage lines and installed synchronous compensators and large battery systems as part of the preparation. A stronger, integrated grid opens room for more wind and solar.

Finance is following. The EIB lent Latvenergo EUR 200 million over 15 years to modernise its distribution network and speed up the integration of renewables, and the Nordic Investment Bank agreed a EUR 230 million loan to Latvenergo covering solar parks, hydropower refurbishment and network work. The EBRD made its first direct renewable project financing in Latvia in 2025, with InvestEU guarantees supporting its lending.

Barriers remain. The IEA’s 2024 review of Latvia recommends removing bottlenecks in permitting and regulatory hurdles for new investment. In August 2026 the Latvian Cabinet rejected a planned wind park in South Kurzeme, citing a lack of repeated public consultation and differing views on building in the coastal protection zone. Projects that handle consultation, permitting and risk well are the ones that reach financial close.

Les organisations ont de plus en plus besoin de professionnels capables de :

• Assessing resource data and energy yield estimates
• Preparing feasibility studies that lenders accept
• Managing permitting and environmental impact assessment timelines
• Engaging communities and municipalities from the early stages
• Negotiating grid connection terms
• Structuring corporate and utility PPAs
• Building three-statement project finance models
• Running sensitivity, scenario and Monte Carlo analysis
• Sizing debt using debt service cover ratios
• Preparing documentation for development bank financing
• Applying IFC Performance Standards and Equator Principles requirements
• Evaluating hybrid and storage project economics

Strong renewable energy project finance systems help organisations:

• Reach financial close faster and with fewer surprises
• Lower the cost of capital through better risk allocation
• Attract development bank and commercial co-financing
• Reduce permitting and social acceptance delays
• Integrate projects smoothly into the grid
• Protect revenue against market price volatility
• Meet environmental and social requirements of lenders
• Build a repeatable pipeline of bankable projects
• Support national renewable and energy security targets

These skills matter for public agencies designing support schemes as much as for developers and lenders, because the quality of a project depends on the rules it is built under.

Who Should Attend This Renewable Energy Project Finance Training?

Ce programme s'adresse à :

• Renewable energy project developers and project managers
• Investors, infrastructure fund managers and green fund analysts
• Commercial bank project and energy finance teams
• Development finance institution officers
• Ministry of energy and climate officials
• Energy regulators and market monitoring staff
• Transmission and distribution system operator planners
• State-owned utility investment and strategy teams
• Renewable energy agency and auction programme staff
• Unités de partenariat public-privé
• Project implementation unit (PIU) staff on donor-funded energy projects
• Lawyers and contract managers working on energy projects
• Engineering, procurement and construction (EPC) contractors and suppliers
• Environmental and social specialists in the energy sector
• Consultants and transaction advisers

Participants do not need advanced finance training; modelling sessions start from first principles and build up step by step.

Renewable Energy Project Finance Training Objectives

Upon successful completion of this Renewable Energy Project Finance Training, participants will be able to:

• Explain current renewable technology costs and market trends
• Map the project development cycle from site to commercial operation
• Identify the main permitting, grid and social acceptance risks
• Describe the key project contracts and how they allocate risk
• Compare PPA structures and other revenue models
• Build a basic project finance model for a wind or solar project
• Size and sculpt debt using cover ratios
• Réaliser des analyses de sensibilité, de scénarios et de Monte-Carlo
• Explain how development banks, guarantees and blended finance support projects
• Apply the IFC Performance Standards in project preparation
• Prepare an investment case for lenders or an investment committee

The objectives follow the sequence of a real transaction, from early development to the decision to finance.

Contenu et structure du programme

Renewable Energy Project Finance Training Methodology

The training uses short expert inputs followed by hands-on practice. Most sessions centre on a model, a contract extract or a real transaction rather than slides.

Le programme associe :

• Expert presentations on technology, markets and finance
• Case studies of financed projects in Latvia and the Baltic region
• Step-by-step Excel modelling exercises
• Contract review of PPA, EPC and grid connection terms
• Risk allocation workshops
• Group work in mixed developer, lender and public sector teams
• Role play of lender and investment committee meetings
• A technical visit with structured debrief
• Récapitulatif quotidien et vérification des acquis
• Modèles et listes de contrôle à utiliser après le programme
• Plan d'action individuel

Participants should bring a laptop with Excel. Teams are mixed so that developers, lenders and officials see each other’s priorities.

Institutions can review their project management practice beforehand with the free Risalat project health check.

Visites techniques et programme sur site

The fifth day includes a technical visit so that participants can see how renewable projects operate and discuss real development and financing issues with project teams. Visits are confirmed with host organisations closer to the programme dates and may include an operating wind, solar or hydropower site, a grid or control facility, or an institution involved in renewable energy finance. A structured debrief links what participants saw to the modelling and risk sessions.

Résultats attendus

Upon completion of this Renewable Energy Project Finance Training, participants will be able to:

• Screen renewable projects for technical, commercial and social viability
• Plan permitting, consultation and grid connection steps
• Review the main project contracts and their risk allocation
• Build and test a basic project finance model
• Size debt and assess returns for equity investors
• Compare PPA and support scheme options
• Identify suitable development bank instruments and guarantees
• Apply lender environmental and social requirements
• Present a clear investment case to decision-makers

These outcomes help institutions move projects from concept to financial close with fewer delays.

Institutional Application of Renewable Energy Project Finance Training

Ce programme aide les organisations à renforcer :

• Project pipeline management
• Feasibility study quality
• Permitting and consultation planning
• Grid connection coordination
• Contract management for energy projects
• Financial modelling and appraisal
• Credit and investment decision processes
• Gestion des risques environnementaux et sociaux
• Design of support schemes and auctions
• Engagement with development finance institutions
• Monitoring of project delivery

Les participants repartent avec des outils pratiques pour améliorer :

• Project screening scorecards
• Permitting and consultation plans
• Project finance model templates
• Debt sizing calculators
• Risk allocation matrices
• PPA term sheet checklists
• Lender due diligence checklists
• Investment memorandum outlines

Organisations can also assess wider institutional readiness through the Risalat institutional capacity assessment.

Pertinence régionale & mise en application

Europe

Across the Baltic states, grid synchronisation, EU co-financing and InvestEU-backed lending are supporting new wind, solar and storage projects, while permitting and local acceptance remain decisive. The Latvian cases studied in Riga apply directly to other EU and neighbouring markets.

Afrique

IRENA’s cost data show that onshore wind and solar are now the cheapest new options in most markets, yet higher financing costs can erode that advantage. African developers and agencies benefit from the sessions on risk allocation, guarantees and development bank co-financing.

Moyen-Orient

Utility-scale solar and wind procurement in the region relies on long-term PPAs and competitive tenders. The contract, modelling and storage sessions help officials and developers compare structures and integrate battery systems.

Asie

With most of the 582 GW of renewable capacity added globally in 2024 coming from solar and wind, Asian institutions are managing larger pipelines and grid integration challenges. The pipeline screening and grid connection content addresses these needs.

Amérique latine

Corporate PPAs, auctions and merchant exposure are common features of renewable markets in the region. Sessions on revenue risk and Monte Carlo analysis help teams assess price uncertainty.

Wherever participants work, the same disciplines decide bankability: credible data, sound contracts, managed risks and early engagement with communities.

Profil du pays d'accueil – Lettonie

Riga, Latvia’s capital, is the largest city in the Baltic states and a convenient regional meeting point, with a compact historic centre, modern hotels and good conference facilities. Its size makes it easy to combine classroom sessions with visits and networking.

Latvia is a useful benchmark for renewable project finance. Its power system has long relied on hydropower and bioenergy, and the IEA notes that renewables provide around three-quarters of domestic electricity generation. The country is now adding wind and solar: the Smiltene wind farm is expected to raise installed wind capacity by about 80%, and the Sunly hybrid parks are expected to raise solar capacity by about 50%. AST, Latvenergo and partners have invested heavily in the grid, and Latvia and Estonia are preparing the ELWIND offshore wind project of at least 1,000 MW.

Latvia is in the Schengen Area and Riga International Airport offers direct flights to many European cities. Participants who need a Schengen visa should apply early through the relevant Latvian mission or visa centre; Risalat provides invitation letters and visa guidance. Spring weather in Riga can be cool, so layered clothing is advised for site visits.

Renewable Energy Project Finance Training Deliverables

Every participant receives a full package of preparation, learning tools and follow-up support.

Avant le programme

• Pré-évaluation des participants
• Renewable Energy Project Finance Readiness Assessment
• Renewable Energy Project Finance Resource Pack
• Lectures préparatoires
• Aide et conseils gratuits pour le visa
• Accueil à l'aéroport & assistance à l'arrivée
• Hébergement avec petit-déjeuner
• Dîner de bienvenue et de réseautage

Pendant le programme

• Kit de formation Risalat (sac, gourde, mug, t-shirt, casquette, protège-passeport, stylos, carnet, magnet & porte-clés)
• Comprehensive Renewable Energy Project Finance Training Manual
• Renewable Project Screening Scorecard
• Project Finance Model Template (Wind and Solar)
• Debt Sizing and Sculpting Calculator
• Risk Allocation Matrix for Renewable Projects
• PPA Term Sheet Checklist
• Permitting and Consultation Planning Template
• Lender Due Diligence and IFC Performance Standards Checklist
• Ateliers pratiques & simulations
• Discussions de groupe & apprentissage entre pairs
• Déjeuner et pauses-café quotidiens
• Accès complet aux installations du lieu de formation
• Mini tablette avec supports pédagogiques numériques
• Visite de terrain (le cas échéant)
• Visite récréative de la ville

Après le programme

• Certificat de participation
• Distinction Risalat de participation au programme
• Documents de référence après la formation
• Investment Memorandum Template
• Monte Carlo Risk Analysis Worksheet
• Accompagnement après la formation & conseils de suivi
• Rapport du programme

Ministries, utilities, banks and project teams can request a tailored in-house version of this programme, built around their own projects and financing structures, through the Risalat proposal request form.

Common Challenges in Renewable Energy Project Finance, And How This Training Helps

How can we tell which projects in our pipeline are worth developing?

Day 1 introduces screening criteria and the pipeline workshop gives teams a scorecard they can apply to their own projects.

How can we avoid permitting delays and local opposition?

Day 2 covers environmental assessment, consultation and municipal engagement, using the Baltic wind case to build a practical consultation plan.

How can we secure a grid connection on time?

Day 1 explains the grid context after synchronisation and Day 2 covers connection applications, agreements and coordination with system operators.

How can we make a project bankable for lenders?

Day 3 modelling and debt sizing, together with Day 4 sessions on due diligence and risk allocation, show what lenders test and how to prepare for it.

How can we manage electricity price risk?

Day 4 compares PPAs, contracts for difference and merchant exposure, and Day 5 uses scenario and Monte Carlo analysis to measure the impact.

How can development banks and guarantees lower our financing costs?

Day 4 reviews EBRD, EIB and NIB financing in Latvia and the use of InvestEU guarantees to support commercial lending.

How can we meet international environmental and social standards?

Day 2 applies the IFC Performance Standards to project preparation, and the deliverables include a lender due diligence checklist.

Questions fréquentes

Who should attend this renewable energy finance training?

Developers, investors, bankers, development finance officers, energy ministry and regulator staff, utility planners, PIU teams, lawyers and consultants working on renewable energy projects.

Do I need financial modelling experience?

No. The modelling sessions start from first principles using a guided Excel template. Participants should bring a laptop with Excel.

Quels projets réels sont utilisés comme études de cas ?

The programme uses Latvian and Baltic examples, including the Smiltene wind farm, Sunly's hybrid solar parks, the ELWIND offshore wind project and the Baltic grid synchronisation of February 2025.

Y a-t-il une visite de site ?

Yes. Day 5 includes a technical visit to a renewable energy or grid facility. Visits are confirmed with host organisations closer to the programme dates.

Le programme peut-il être organisé en intra ?

Yes. Institutions can request a tailored version built around their own projects through the Risalat proposal request form.

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