NIB Loans €15 Million for Electrification of Riga Trolleybus Network

Several Riga trolleybus routes currently operate partly outside the existing contact network, using diesel engines. The new funding will enable network expansion to allow fully electric operation in a larger part of the system. Total investment for the project is approximately €20 million.

The project also includes modernization of traction substations and power supply systems, reconstruction of the existing contact network, and construction of new power lines. "This project is an investment in a more environmentally friendly public transport system," says Jānis Naglis, board member of SIA "Rīgas satiksme". "By expanding the trolleybus contact network and modernizing the infrastructure, we will reduce dependence on diesel engines, improve the reliability of the power supply, and ensure more efficient transport operations in the long term."

Kaspars Pīlādzis, Senior Banker and Head of NIB's Riga office, emphasizes that modern and environmentally friendly public transport is essential for sustainable urban development. This investment will help Riga's public transport system better meet future mobility needs.

The upgrades will increase network reliability by reducing power outages, voltage fluctuations, and delays. Modernized substations and updated power distribution equipment will strengthen the resilience of the network, which serves approximately 40 million passenger trips annually.

"Rīgas satiksme" is a municipal company that operates bus, trolleybus, and tram services, as well as paid parking and transport infrastructure in Riga. NIB is an international financial institution owned by Denmark, Estonia, Iceland, Latvia, Lithuania, Norway, Finland, and Sweden. The bank finances projects that improve productivity and environmental sustainability in the Nordic-Baltic region. NIB holds the highest credit ratings of AAA/Aaa from S&P Global Ratings and Moody's.