European Energy has sold 50 percent of its 111 MW Saldus project in Latvia to Sampension, one of Denmark's largest pension funds. The project combines a 65 MW solar plant with a 46 MW battery storage system and will contribute to Latvia's goals for more renewable energy and greater flexibility in the electricity grid. This is what European Energy writes.
The construction of the plant began in July 2025 and is expected to be completed in May 2026. When the project is operational, it will supply green electricity to the Latvian electricity grid while increasing stability through the battery solution.
- With this divestment, we are once again demonstrating our ability to complete large renewable energy projects from development to construction and delivered to long-term institutional investors, says Jens-Peter Zink, Deputy CEO of European Energy.
European Energy has over 1 GW of projects under development in Latvia within onshore wind, solar and battery storage. Latvia aims for 57 percent of its of electricity consumption to come from renewable energy sources by 2030, but solar deployment is still lagging behind neighboring countries.
Sampension has previously purchased half of European Energy's Ventspils project, Latvia's largest solar park at 148 MW, and with the investment in Saldus, the pension fund will gain another asset that combines solar energy and energy storage.
- The Saldus project allows us to support the deployment of renewable energy in the Baltics and add a diversified asset with both solar energy and energy storage to our portfolio. We are pleased to be able to build on our strong partnership with European Energy with this additional joint investment, says Torbjørn Lange, Head of Real Estate & Infrastructure at Sampension.
amp
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
