Latvia, Saldus: European Energy has agreed to sell a 50 % stake in its Saldus hybrid renewable project in Latvia to Sampension, one of Denmark’s leading pension funds. The move aligns with European Energy’s strategy to develop, build, and divest projects that attract long-term institutional investors.
Located near the town of Saldus, the project integrates a 65 MW solar photovoltaic plant with a 46 MW battery energy storage system (BESS). Construction began in July 2025, with completion expected by May 2026. Once operational, the facility will supply renewable electricity to the Latvian grid while enhancing grid flexibility and energy security through the use of battery storage.
“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 Energy. “The capital recycled from projects like Saldus enables us to expand our pipeline of wind, solar, and hybrid projects across Europe.”
Alnis Balins, European Energy’s Country Manager for Latvia, added that the project uses both fixed-tilt and tracker technologies to maximise energy production and efficiency, supporting Latvia’s goal of producing 57 % of its electricity from renewables by 2030.
Torbjørn Lange, Head of Real Estate and Infrastructure at Sampension, said the investment fits the fund’s strategy to deliver stable, long-term returns while supporting the green transition.
European Energy is currently developing over 1 GW of renewable energy projects in Latvia, including onshore wind, solar, and hybrid installations, as part of its growing portfolio across the Baltic region.
Source: Power Technology
