European Energy Inaugurates 148 MW Tārgale Solar Park, Marking Its First Completed Renewable Energy Project In Latvia

European Energy has officially inaugurated the Tārgale Solar Park in Latvia’s Ventspils Municipality, marking a significant milestone in the company’s expansion across the Baltic renewable energy market. The project is European Energy’s first fully completed and grid-connected renewable energy facility in Latvia and signals the beginning of a broader development pipeline the company is pursuing in the country.

The solar park has an installed capacity of 148 MWp, with a grid connection capacity of 110 MW. Spanning 138 hectares, the facility is expected to generate approximately 154,550 MWh of electricity each year, enough to meet the annual electricity needs of around 60,000 households. The project represents a total investment of €80 million and is jointly owned by European Energy and Danish pension fund Sampension, with each holding a 50% stake.

The inauguration comes as Latvia continues to accelerate its renewable energy ambitions and strengthen its energy independence. Industry stakeholders view large-scale solar developments such as Tārgale as increasingly important for diversifying the country’s energy mix and reducing reliance on imported energy sources.

According to Alnis Bāliņš, Country Manager for European Energy Latvia, the project represents an important first step for the company in the Latvian market. He noted that close collaboration with local communities, authorities, and stakeholders played a key role throughout the development process, while also contributing to the broader growth of renewable energy infrastructure in the country.

European Energy’s Deputy CEO, Jens-Peter Zink, highlighted Latvia’s strong potential for future renewable energy investments. He said the completion of Tārgale Solar Park demonstrates how partnerships between local stakeholders, international investors, and project developers can help expand renewable energy generation while strengthening regional energy security.

A key feature of the project is its long-term Corporate Power Purchase Agreement (CPPA) with Apple. The agreement is considered one of the first corporate PPAs signed in Latvia and currently stands as the largest corporate power purchase agreement linked to a single power plant in the Baltic region, covering 110 MW of capacity.

Such agreements are increasingly becoming an important tool for supporting renewable energy projects by providing long-term revenue certainty while helping large corporations meet their sustainability and clean energy targets.Environmental and social considerations were also a major focus during the development phase.

European Energy conducted extensive environmental and social impact assessments, examining biodiversity, hydrological conditions, landscape integration, and potential effects on nearby communities. These studies were designed to ensure that the project could be developed while minimising environmental impacts and addressing local concerns.

Alongside the energy infrastructure investment, European Energy Latvia launched the Ventspils Social Foundation to support initiatives in communities surrounding the solar park. In 2026, the foundation allocated €50,000 to local projects, including youth sports programmes, educational initiatives, and community events.

The company says these efforts are intended to ensure that local communities benefit directly from renewable energy development occurring in their region.Local authorities have welcomed the project as both an energy and economic development opportunity. According to Andis Zariņš, Chairman of Ventspils Municipality, projects such as Tārgale Solar Park not only contribute to clean electricity generation but also create broader value for municipalities through community support, investment, and enhanced energy security.

The commissioning of the solar park forms part of European Energy’s wider strategy in Latvia. The company is already progressing with additional renewable energy developments and expects its next major project in the country to be completed in autumn 2026.

That project, located in Saldus, will combine a solar power facility with a Battery Energy Storage System (BESS), reflecting the growing importance of energy storage technologies in supporting grid stability and improving the integration of renewable energy sources.With a capacity of 148 MWp, annual expected generation of more than 154,000 MWh, and strong backing from both international investors and corporate offtakers, Tārgale Solar Park represents one of Latvia’s most significant solar energy developments to date.

The project highlights the increasing role of large-scale renewable energy investments in supporting the country’s energy transition, enhancing energy security, and creating long-term value for local communities and the wider economy.