European Energy, a renewable energy project developer, has agreed to sell a 50% stake in its 111 MW Saldus solar and battery project in Latvia to Sampension, a Danish pension fund organization.
The Saldus project comprises a 65 MW solar project with a 46 MW battery energy storage system. The project construction began in July 2025 and is expected to be completed in May 2026.
“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 maximize 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,” says Alnis Balins, Country Manager for European Energy in Latvia.
The divestment is part of European Energy’s strategy to develop and construct projects attractive to institutional investors, while allowing the company to reallocate resources to new renewable energy projects across Europe.
In 2025, European Energy closed financing for its solar and wind projects spanning across Europe and Australia. This includes a $73 million facility for the Ventspils solar project in Latvia, a $165 million loan for a portfolio of onshore wind and solar projects, and an $80 million loan to support the development of two solar projects in Australia.
In March 2025, the company sold 470 MW of solar and wind projects in Lithuania to Energix Group. The divestment agreement included a solar project of up to 330 MW and a wind project with 140 MW capacity.
In the first nine months of 2025, approximately 29 GW of solar projects were acquired compared to 28.3 GW in 9M 2024, according to Mercom’s recently released 9M and Q3 2025 Solar Funding and M&A report.
