Latvijas Banka has approved the new base prospectus for the bond programme of SIA "Rīgas ūdens", enabling the company to continue the bond issuance programme launched in 2025 and issue European Green Bonds (EuGB) for the remaining aggregate amount of up to EUR 40 million.

"Rīgas ūdens" plans to issue the remaining EUR 40 million under its EUR 60 million bond programme as part of the next bond tranche, taking into account market conditions and financing needs. The bond issuance is expected to take place no earlier than the end of 2026, and the issued bonds will be listed on the Nasdaq Riga Baltic Bond List. The majority of the proceeds are expected to be allocated to the development of the Daugavgrīva Wastewater Treatment Plant and the continuation of the sewage network rehabilitation programme. The financing is planned to be raised within the framework of the company’s long-term investment programme, while maintaining the ability to service liabilities from operating cash flow.

Krišjānis Krūmiņš, Chairman of the Management Board of SIA "Rīgas ūdens": “The first European Green Bond issuance demonstrated investors" confidence in the long-term development plans of SIA "Rīgas ūdens" and in our ability to implement them in line with the commitments made to investors and society. By providing a significant share of Latvia’s water supply and wastewater services,we are responsible not only for sustainable infrastructure development but also for reducing environmental impact. Therefore, it is important for us to continue implementing the projects included in the company’s long-term strategy, purposefully attracting capital market financing through European Green Bonds alongside bank financing.”

As previously reported, in June 2025 SIA "Rīgas ūdens" became the first company in Latvia and the first company in Northern Europe to issue European Green Bonds in accordance with Regulation (EU) 2023/2631 on European Green Bonds.

The company’s inaugural EUR 20 million European Green Bond issuance, with a fixed coupon rate of 4.0%, attracted strong investor interest, with total demand reaching 228% of the issuance amount and exceeding EUR 45 million.

In May 2026, the company published its European Green Bond allocation report and received an independent post-issuance review by "Sustainable Fitch" covering the period until the end of 2025. The review confirms that, by the end of 2025, 100% of the allocated proceeds from the first issuance were aligned with the requirements of the EuGB Regulation and the EU Taxonomy.

In 2025, the company allocated a total of EUR 17.14 million, or 85.7% of the proceeds raised through the issuance, to sustainability-related projects, including EUR 13.13 million for wastewater infrastructure development projects, EUR 3.11 million for biogas production infrastructure, EUR 0.87 million for renewable energy generation projects, and EUR 0.03 million for energy efficiency improvement measures.

About SIA Rīgas ūdens:  

SIA Rīgas ūdens is the largest water utility company in Latvia, providing water abstraction, treatment, and supply, as well as wastewater collection and treatment services in Riga and the surrounding area. The company’s priorities are delivering high-quality services, developing infrastructure, and ensuring sustainable use of resources. Rīgas ūdens is the first municipal company in Latvia to secure financing through the capital market and the first company in Northern Europe to issue bonds in accordance with the European Green Bond (EuGB) Standard.