The solar park is still under construction and is expected to be completed in the fourth quarter of 2025. The solar park has a capacity of 148 MW, and it is expected that it will produce electricity equivalent to the consumption of over 40,000 European households.
While Latvia has ambitious climate goals – with 57 percent of the country’s electricity consumption to come from renewable energy by 2030, according to the IEA, the International Energy Agency – the expansion of solar parks in Latvia has so far been slower than in the other Baltic countries, but has recently been ramping up with numerous new parks either open or under construction.
European Energy has been collaborating with Sampension on renewable energy parks for several years – 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.
“We consider the solar park in Ventspils to be an attractive investment case with a good match for our existing portfolio. And we also appreciate being able to expand the already very good collaboration with European Energy,” said Torbjørn Lange, Head of Properties and Direct Infrastructure at Sampension.
“We are pleased to collaborate on Latvia’s largest solar park with Sampension. This step is a natural continuation of our collaboration, and we look forward to contributing to the green transition in Latvia together with Sampension,” said Thorvald Spanggaard, EVP and Project Development Manager at European Energy.
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