Sorainen has advised the Riga Energy Agency on the development of a concept and business model for the Riga Energy Efficiency Fund.
According to Sorainen, “the development of the REEF concept is a crucial step towards the city co-financing energy-efficient renovations of resident homes. The implementation of REEF would help achieve Riga’s climate goals, saving 410,784 megawatt-hours of energy per year and reducing [carbon dioxide emissions] by 59,563 tonnes” per year.
The REEF will be able to "independently attract new funds, in order to finance the necessary funds for the renovation of the housing fund," the firm informed.
Sorainen’s team included Partner Rudolfs Engelis and Senior Associates Santu Rubinu, Katrini Plavinu-Miku, and Nataliju Graveli.