Riga Forest Peatland Restoration and Photovoltaic Development

Peatlands are critical ecosystems that serve as carbon dioxide (CO₂) reservoirs and hotspots for biodiversity. They consist of accumulated organic matter, mainly in waterlogged conditions, which slows the decomposition of plant material. This makes them highly efficient at storing carbon, with peatlands globally holding more carbon than all the world’s forests combined

Degradation of peatlands is a significant concern across the Baltics, as peatlands account for about 10% of the total land area in these countries, with a significant proportion having suffered degradation due to various human activities. Latvia, has recognised the importance of restoring degraded peatlands, given the crucial role it can play in reversing environmental damage, climate change mitigation due to capturing carbon, supporting biodiversity and sustainable management of natural resources.

One such restoration initiative is being developed by SIA Rīgas Meži (“RM”, the “Beneficiary”), the municipally owned forest management company operating under the Riga City Council.

The planned restoration project (the “Project”) involves degraded peatlands in the vicinity of Riga. RM aim to develop a large-scale solar park on degraded peatlands, aligning with Latvia’s energy independence and sustainability goals.

The Beneficiary has requested the EIB’s support in advancing the development of the Project from concept through to implementation planning, with the aim of delivering a technically and economically viable, investable project that meets the standards of sustainable land use and green energy infrastructure and contributes to Latvia’s long-term environmental and energy goals.

The advisory support will address key challenges such as identifying appropriate engineering solutions, ensuring compliance with environmental regulations, and establishing economic viability. Emphasis will be placed on minimizing costs and maximizing energy production efficiency, while meeting the strict environmental standards applicable to peatland areas.

The purpose of this Assignment is to support the Beneficiary through the first phase of the above advisory process, with the goal of enabling the Beneficiary to make an informed decision based on the outcomes, whether to continue the development of the Project to subsequent stages.

Specifically, the Assignment shall identify the areas most suitable for PV installation, while respecting ecological objectives within the Project Area, and demonstrate the feasibility in principle of rewetting these areas and installing large-scale PV from technical, financial, and environmental perspectives.

The Assignment will guide the Beneficiary from the concept to the pre-feasibility/feasibility stage, encompassing a broad range of environmental, regulatory, technical, economic and financial aspects of the Project.

• At least a Bachelor’s Degree in Environmental Science, Ecology, Forestry, Natural Resource Management, or a related field relevant to the Assignment (Minimum requirement)

• A post-graduate degree in any of the above fields will constitute an asset.

• At least 15 years of professional experience in ecological restoration, wetland or peatland management, nature-based solutions, or sustainable land use planning (Minimum requirement).

• At least 8 years of advisory or implementation experience on peatland restoration or wetland ecosystem rehabilitation projects (Minimum requirement).

• Demonstrated specific knowledge of peatland restoration techniques, as evidenced by involvement in at least 3 relevant projects (Minimum requirement).

• Demonstrated experience in leading/supervising of peatland restoration assignments, as evidenced by the expert’s involvement in 3 relevant projects (Asset).

• Experience in developing or advising on ecological restoration masterplans or land use plans for degraded ecosystems (Asset).

• Experience with GIS and aerial survey/lidar/remote sensing for topographical mapping and monitoring (Asset).

• Experience working on restoration projects in Northern Europe or the Baltics within the past 5 years (Asset).

• At least a Bachelor’s Degree in Engineering (electrical, civil, or renewable energy), or a related field relevant to the Assignment (Minimum requirement).

• At least 15 years of professional experience in the renewable energy sector (Minimum requirement)

• At least 8 years of experience in technical feasibility and planning of utility scale solar PV projects, including grid and storage integration (Minimum requirement)

• Specific knowledge of solar PV deployment on constrained or unconventional sites (e.g. wetlands, former industrial or degraded lands), demonstrated by the expert’s involvement in at least 2 projects (Minimum requirement)

• Experience of advising on technical design solutions for civil works, reinforced foundations, and access infrastructure on sensitive land types (Asset)

• Experience of energy project planning in Latvia or the Baltics within the past 7 years (Asset).

• At least a Bachelor’s Degree in Environmental Science, Environmental Economics, Ecology, Landscape Ecology, Natural Resource Management, or a related field relevant to the Assignment (Minimum requirement).

• At least 10 years’ experience in the fields of natural capital, landscape ecology, environmental economics, or ecosystem services valuation (Minimum requirement)

• At least 5 years of advisory or analytical experience related to the economic and financial assessment of multi-use landscape spatial plans, nature-based solutions or natural capital and ecosystem services (Minimum requirement)

• Specific experience in developing economic models and value chains for ecosystem services (e.g. flood mitigation, biodiversity), with at least 2 relevant assignments (Minimum requirement)

• Experience with integrating carbon sequestration benefits into restoration project business models or financing strategies, as demonstrated by involvement in at least 2 projects (Asset)

• Experience with biodiversity and climate co-benefit valuation or revenue potential assessment and business planning for multi-use landscape projects (Asset).

• At least a Master’s Degree in Hydrology, Geospatial Science, Environmental Science, Environmental, or a related discipline relevant to the Assignment (Minimum requirement)

• At least 10 years of experience in hydrology (Minimum requirement)

• At least 3 projects involving hydrological modelling or hydrological assessment in relation to wetland restoration (Minimum requirement)

• At least 2 projects of implementing restoration strategies to improve water retention for wetland or peatland restoration (Minimum requirement)

• Experience from field studies measuring phreatic level, water table fluctuations or flows in peatlands from at least 2 projects (Asset)

• Familiarity with Latvia/Baltic/Finnish peatland ecosystems (Asset).

• At least a Bachelor’s Degree or academic equivalent in finance or Economics (Minimum requirement).

• At least 10 years of experience in infrastructure and/or PPP/project finance advisory (Minimum requirement)

• At least 6 years of advisory or delivery experience of developing comprehensive financial strategies and plans, evaluating delivery, procurement, financing and funding options for infrastructure projects (Minimum requirement).

• Knowledge and experience in:

o Undertaking thorough financial feasibility assessments for proposed solar PV / renewable energy projects, considering factors such as construction costs, operational expenses, revenue projections, and potential return on investment and

o Creating and managing detailed financial models that accurately project cash flows, investment returns, and financial performance over the lifespan of solar PV / renewable energy projects and

o Identifying and analysing financial risks associated with solar PV and renewable energy projects, including market volatility, regulatory changes, and project specific challenges, developing strategies to manage and mitigate these risks and

o Risk identification, analysis, and allocation under a range of different delivery model options, development of risk mitigation strategies As demonstrated by the expert’s involvement in at least 3 projects (Minimum requirement).

• Knowledge and experience in:

o Identifying and assessing the applicability of PPP delivery and financing models and/or

o Performing quantitative value for money and affordability assessment of PPP delivery scenarios.

As demonstrated by the expert’s involvement in at least 2 projects involving PPP finance advice (Asset).

Expertise and experience complementary to that of the key experts identified above.

The profiles are :

• GIS and Environmental Data Expert with experience in processing remote sensing/land survey and spatial environmental data for GIS and/or modelling

• Environmental and Climate Policy Expert with experience in analysis and application of EU climate and environmental legislation.

• Landscape Carbon Expert with experience in carbon accounting and credits, including EU carbon farming policies and carbon standards (e.g. VCS, Gold Standard, Peatland Code)

• Experts/operators for the practical execution the Measurement and Survey Plan