European Energy divests combined solar and battery park in Latvia to Sampension

The Saldus project combines a 65 MW solar photovoltaics (PV) facility with a 46 MW battery energy storage system (BESS). Construction began in July 2025 and is expected to be completed in May 2026. Once operational, the project will deliver renewable electricity to the Latvian grid and enhance flexibility in the power system through the co-located battery facility.

“This divestment is a clear example of our ability to take large scale renewable energy projects from development through construction and into the hands of long-term institutional investors,” said Jens-Peter Zink, Deputy CEO of European Ener-gy. “The capital recycled from projects like Saldus enables us to expand our pipeline of wind, solar, and hybrid projects across Europe.”

“Saldus is one of the most advanced solar and storage projects in Latvia. With its combination of fixed-tilt and tracker technology, it is designed to maximise energy production and operational efficiency. The project will support Latvia’s efforts not only to increase renewable energy in the national mix, but also improve energy security and network operational stability by having BESS as an integral part of this energy project,” added Alnis Balins, Country Manager for European Energy in Lat-via.

There is strong demand for renewable energy in Latvia, driven in part by the need to reduce dependence on energy imports. This is also important for Sampension, which has previously partnered with European Energy in Latvia by acquiring 50% of Ventspils, to date the largest solar park in Latvia, with a capacity of 148 MW.

“Investments in renewable energy are an important part of Sampension’s strategy to deliver stable, long-term returns to our members while contributing to the green transition,” commented Torbjørn Lange, Head of Real Estate & Infrastructure at Sampension.

“The Saldus project allows us to support the expansion of renewable energy in the Baltic region and add a diversified asset with both solar generation and energy storage to our portfolio. We are happy to build further on our strong partnership with European Energy with this additional joint investment.”

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