Latvia supporting energy storage solar project

EBRD supports large-scale hybrid solar energy rollout in Latvia

The solar parks will be located in Valmiera, Krāslava, Madona, and Saldus municipalities, and will integrate solar photovoltaic systems with wind power and battery

2025 Apr 23

European Energy Secures €37.9 Million Financing for Latvia''s

European Energy has announced the successful securing of €37.9 million in long-term project financing from Luminor Bank to develop a hybrid solar and battery energy storage

2024 Mar 13

European Energy sells half of Latvian solar-plus-storage project

European Energy has sold half of its stake in a Latvian solar-plus-storage project to a Danish investor, revealing the company''s goal to reinvest in renewables.

2025 May 15

Latvia''s path to energy transition: Expanding renewable energy

In the same year AJ Power invested over €6 million to deploy battery energy storage systems at its solar power plants in Valmiera, Aizkraukle, and Ilūkste, enhancing grid

2025 Jun 18

2.5MW/4MWh Energy Storage System on the

The 2.5MW/4MWh project aims to enhance Latvia''s power grid stability through advanced energy storage systems, supporting renewable energy

2025 Jul 21

SUNOTEC seals Latvian hybrid solar investment in landmark

SUNOTEC acquires 400 MWp solar-plus-600 MWh storage project in Latvia, targeting grid connection by 2027 and bolstering the country''s expanding clean-energy ambitions.

2024 Jul 24

European Energy secures financing for hybrid solar and storage project

European Energy has secured EUR 37.9 million of long-term project financing for a hybrid solar and battery storage project in Saldus, Latvia. Once operational, it will be among

2024 Dec 16

Estonia''s Sunly gets €85M to build solar parks powering

Tallinn-based Sunly, a renewable energy company and an investor in renewable energy and electrification startups, has secured nearly €85M in international financing to

2025 Jan 15

Sunly.ee | Latvia to get solar-power boost as energy

" The solar capacities launched in 2027 will ensure diversity of energy sources and will strengthen energy independence of Latvia. This a signature cooperation for SEB Latvia as

2025 May 31

Latvia solar storage: Impressive €37.9M Boost Secured

Danish renewables company European Energy has secured €37.9 million in financing for a major hybrid solar and energy storage project in Latvia, a landmark move for

2025 Jul 18

European Energy divests combined solar and battery park in Latvia

European Energy sells 50% of its 111 MW Saldus solar and battery project in Latvia to Sampension, one of Denmark''s largest pension funds. The project combines a 65

2025 Jan 23

European Energy gets EUR-38m loan for solar, storage site in Latvia

Danish renewables developer European Energy has obtained EUR 37.9 million (USD 43.8m) in long-term project financing for a solar-plus-storage project in Latvia, which is

2024 Jun 28

Luminor grants more than 37.9 million euros in financing for

Luminor bank has granted financing of 37,9 million euros to SIA Baltazar, a Latvian subsidiary co-owned by the Danish companies European Energy and Sampension.

2024 Oct 03

Sunotec buys Latvian solar-BESS project from

Bulgarian solar engineering company Sunotec has acquired 100% of the project company, SIA DSE Lazas Solar, from Danish Sun

2024 May 14

Latvia''s path to energy transition: Expanding

In the same year AJ Power invested over €6 million to deploy battery energy storage systems at its solar power plants in Valmiera,

2024 May 24

European Energy divests combined solar and battery park in Latvia

- European Energy sells 50% of its 111 MW Saldus solar and battery project in Latvia to Sampension, one of Denmark''s largest pension funds. - The project combines a 65

2024 Aug 07

Latvia – pv magazine International

The projects are being developed as hybrid parks, combining solar with wind and battery energy storage.

2024 Jul 03

European Energy Secures €37 Million Financing for Latvia Hybrid Solar

European Energy has obtained more than €37 million in long-term project financing from Luminor Bank to develop a hybrid solar and battery energy storage facility in

2025 May 17

Renewables: Sunotec in Latvia, Statkraft''s PPA, Open Road''s Ohio solar

Germany-based solar EPC firm Sunotec has acquired a development-stage project in Latvia with a planned capacity of 400 MWp solar and 600 MWh battery energy storage.

2024 Feb 22

Latvia: first BESS opens ahead of Russia grid

Latvia''s first utility-scale battery storage project has been commissioned, while Fotowatio Renewable Ventures has entered the

2024 Sep 09

European Energy and Luminor finance hybrid solar project in Latvia

A 65 MW solar and 92 MWh storage project by European Energy, Sampension and Luminor in Latvia advanced the country''s transition toward greater grid flexibility.

2025 Oct 30

EBRD supports large-scale hybrid solar

The solar parks will be located in Valmiera, Krāslava, Madona, and Saldus municipalities, and will integrate solar photovoltaic systems

2024 Feb 24

Impressive Latvian solar project stake sold by Energy Firm

In a significant move for the Baltic renewable energy landscape, European Energy has announced the sale of a 50% stake in a major solar-plus-storage project

2026 Feb 04

View/Download Latvia supporting energy storage solar project [PDF]

PDF version includes complete article with source references. Suitable for printing and offline reading.

4 FAQs about Latvia supporting energy storage solar project

Who is responsible for the energy transition in Latvia?

Local authorities are responsible for municipal energy supply and renewable energy projects, with Latvia’s energy transition guided by the National Energy and Climate Plan and the Energy Strategy 2050.

When will battery energy storage systems be installed in Latvia?

The most recent update regarding BESS installations is that in Tume and Rēzekne, Latvia’s transmission system operator “Augstsprieguma tīkli” (AST) in June 2025 installed battery energy storage systems with a combined capacity of 80 MW and 160 MWh, which will undergo testing until October 2025.

What is Latvia's Energy Strategy 2050?

Latvia’s Energy Strategy 2050 outlines major changes in renewable energy production and storage, with significant investments planned in wind, solar, biomass, and biogas, as well as in energy storage technologies like batteries and subsurface systems to ensure supply stability .

What is the main source of renewable electricity in Latvia?

Hydroelectric power is the main source of renewable electricity in Latvia, followed by solar, wind and biomass cogeneration plants. In 2024, solar power in Latvia grew over 3.1 times to 6.7% of total electricity, becoming the third-largest source, while wind reached a record 38 GWh and hydropower, despite a 16% drop, still provided 54%.