European Energy has divested half of the 148 MW Latvian solar park to Sampension.
European Energy has collaborated with Sampension for several years on renewable energy parks, including investments in land for the development of energy parks in Denmark, Sweden, and Latvia, as well as asset management of Sampension’s international wind investments. The solar park is under construction and is expected to be completed in Q4 of 2025 and is expected to generate electricity equivalent to the consumption of over 40,000 European households.
Latvia has set ambitious climate targets, with plans for 57% of its electricity consumption to be sourced from renewables by 2030, as reported by the International Energy Agency (IEA). However, the country has lagged behind its Baltic neighbors in developing solar parks, having only 500 MW of solar capacity in 2023. The new solar project in Ventspils is expected to play a key role in boosting renewable energy production in Latvia.
