12-01-09 Iberdrola Ingenieria has completed the construction of a 420 MW combined cycle plant in Riga, Latvia to supply 20 % of the country's electricity needs and reduce its energy dependence by 30 %.
The owner of the plant is local electricity utility Latvenergo.

This is the first plant of this type developed by the Iberdrola Group subsidiary for third parties abroad and marks an important milestone in the company's international expansion strategy, said Iberdrola.
After the plant passed the test period successfully, Iberdrola Ingenieria delivered it to Latvenergo. In 2007, the Iberdrola Group won the EUR 300 mm ($ 411 mm) contract to not only build the plant, but also to oversee its operation and maintenance.

Once the Riga combined cycle plant comes on stream, Iberdrola Generacion will oversee its operation and maintenance for a period of 12 years.
By using residual heat, the plant will provide heating and hot water to the southern part of the city of Riga, which has a population of over 700,000.