| Work Detail |
Sampension buys 50% of project to be completed in late 2025
European Energy has sold half of a Latvian solar park to Sampension.
The solar park is currently under construction and is expected to be finished in the fourth quarter of 2025.
It will have a capacity of 148MW.
Latvia is aiming for 57 percent of its electricity consumption to come from renewable sources by 2030, according to the International Energy Agency (IEA), but the development of solar capacity in the country has been slower than its Baltic neighbours.
In 2023, the country had only 500 MW of solar capacity.
The new project in Ventspils will therefore significantly contribute to increasing the production of renewable energy in Latvia, European Energy said.
Thorvald Spanggaard, EVP and Head of Project Development at European Energy said: “We are pleased to collaborate on Latvia’s largest solar park with Sampension. This step is a natural continuation of our partnership, and we look forward to contributing to the green transition in Latvia together with Sampension.”
Torbjørn Lange, Head of Real Estate and Direct Infrastructure at Sampension said: "We see the solar park in Ventspils as an attractive investment case that aligns well with our existing portfolio.
"At the same time, we value the opportunity to further strengthen our already excellent partnership with European Energy."
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 Sampensions international wind investments.
Both parties view further collaboration positively and are open to expanding their partnership through investments in additional solar and wind parks under similar arrangements in the future. |
