European Energy to inaugurate 148 MW Solar PV Project in Latvia
European Energy will inaugurate the Tārgale Solar Park in Ventspils Municipality today, marking the company’s first completed and fully grid-connected renewable energy project in Latvia.
The solar park has an installed capacity of 148 MWp and 110 MW at the grid connection point. Covering 138 hectares, the facility is expected to generate approximately 154,550 MWh of electricity annually, corresponding to the electricity consumption of around 60,000 households.
The project represents a total investment of EUR 80 million (US$92.82 million). Danish pension fund Sampension owns 50 per cent of the solar park.
The solar park is supported by a Corporate Power Purchase Agreement (CPPA) with Apple. The agreement is among the first corporate PPAs signed in Latvia and, at 110 MW, is currently the largest corporate PPA from a single power plant in the Baltic countries.
During the development phase, comprehensive environmental and social impact assessments were carried out, including studies of biodiversity, hydrology, landscape considerations and potential impacts on local communities.
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