Residents in Latvia are actively applying projects for housing insulation – projects have also been submitted in Latgale

In the National Support Programme for Energy Efficiency in Multi-apartment Houses, 403 project applications have been submitted to date, with a total amount of eur 72 million to be allocated in total grants. 16 applications have been received from residents of apartment houses in Latgale who want to warn and repair their dwellings.
The National Support Programme for Energy Efficiency in Multi-apartment Houses (DME) is implemented by the development finance institution ALTUM with co-financing of European Union (EU) funds. To date, the most active projects in this programme have been submitted by Riga and Pierīga residents (160), followed by multi-apartment buildings in Kurzeme (107), Vidzeme (66), Zemgale (54) and Latgale (16). In Latgale 7 applications are from Rezekne, 3 from Preiļi and Daugavpils population, 2 from Ilūkstes municipality, but one application was received in Kraslava.
To date, construction works have been successfully completed in 24 houses – Riga, Liepaja, Ventspils, Salaspils, Olaine, Mundigciems, Tukums, Valmiera, Jelgava, Valka etc. The completed renovation and insulating projects show a significant reduction in energy consumption – if the average energy consumption is 165 kWh per year before the heat of the house, then, after renovation works, it is planned on average by 67% below or 54 kWh per year.
Ingus straw, head of THE ALTUM Energy Efficiency Programme Department:
“The energy efficiency improvement programme of multi-apartment houses has received revolutions, new project applications are received daily. According to our estimates, the amount of grants submitted exceeds eur 70 million, which is almost half of the total funding for the grant.
In the near future, two major changes are planned to be made in the binding regulations of the programme. First, if the people of the houses with at least 5 apartments were able to apply for the grant so far, they would soon be able to be home from 3 apartments. Secondly, in cases where a credit institution does not grant the necessary co-financing and the loan is granted TO ALTUM, the grant amount will be 50% instead OF 35%.
Successfully concluded house renovation projects confirm that the insulation of the home is not just a smaller invoice for heat and house management, an increase in the market value of the property, or a more attractive home facade, it is also a security issue of the house. Although the number of applications from residents in Latgale is not yet large in comparison with other regions of the country, i call on the stories of warming success across Latvia, be active and login to the programme to qualify for ALTUM gravel and start saving! ”
In order to improve the technical condition and energy efficiency of multi-apartment houses, a multi-apartment energy efficiency programme has been operated in Latvia since September 2016, which was developed by the Ministry of Economics and implemented BY ALTUM. ALTUM provides comprehensive support in this programme: grants, loan guarantees, loans for project realization, as well as free advice before and during the project.
By 2022, eur 156 million will be available from the European Regional Development Fund, while the funding available for renovation of houses reaches up to 300 million euro. Up to 50% of the costs to be spent on energy efficiency improvement works will be covered by EU funds instead of the population. The other costs can be obtained as a bank loan, and the apartment owners do not need to pledge their apartments. More information about this ALTUM State aid programme is available here.
Insulation of a multi-apartment house: short action plan
About ALTUM
The development finance institution ALTUM is a Latvian state-owned capital company that provides support to certain target groups in the form of financial instruments with the aid of State aid financial instruments (loans, guarantees, investments in venture capital funds, etc.), complementing it with non-financial support (consultancy, mentoring) as well as selling other State delegated functions within the framework of specific programmes. In June 2017, ALTUM received the international credit rating company Moody's long-term credit rating for Baa1 State capital company, which confirms ALTUM's stable financial situation. In turn, ON October 24, 2017, ALTUM's bonds were ̧ into a regulated market in the autas market - stock exchange of Nasdaq Riga Baltic para.