European Energy has sold a 50% stake in its 111MW Saldus solar and battery project in Latvia to Sampension, one of Denmark’s largest pension funds.
The project combines a 65MW solar PV facility with a 46MW battery energy storage system, supporting Latvia’s renewable energy and grid flexibility targets. Construction began in July 2025 and completion is expected in May 2026.
Jens-Peter Zink, deputy chief executive of European Energy, said: “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. The capital recycled from projects like Saldus enables us to expand our pipeline of wind, solar, and hybrid projects across Europe.”
European Energy has more than 1GW of renewable projects in development in Latvia, spanning wind, solar and battery storage.
Alnis Balins, country manager for European Energy in Latvia, said: “Saldus is one of the most advanced solar and storage projects in Latvia. With its combination of fixed-tilt and tracker technology, it is designed to maximise energy production and operational efficiency. The project will support Latvia’s efforts not only to increase renewable energy in the national mix, but also improve energy security and network operational stability by having BESS as an integral part of this energy project.”
The Saldus sale marks the second partnership between European Energy and Sampension, which previously acquired 50% of Latvia’s largest solar park, the 148MW Ventspils project.
Torbjørn Lange, head of real estate and infrastructure at Sampension, said: “Investments in renewable energy are an important part of Sampension’s strategy to deliver stable, long-term returns to our members while contributing to the green transition. The Saldus project allows us to support the expansion of renewable energy in the Baltic region and add a diversified asset with both solar generation and energy storage to our portfolio.”
European Energy said the transaction strengthens its partnership with Sampension and enables the company to reinvest in new renewable projects across Europe.