Sampension partners up with European Energy to develop a Latvian solar park

Sampension and European Energy have become co-owners of a large solar park development in Latvia. 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.

According to the International Energy Agency (IEA), Latvia is aiming for 57 percent of its electricity consumption to come from renewable resources by 2030.

The new project in Ventspils will significantly contribute to increasing the production of renewable energy in Latvia.

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 Sampension’s 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.

Ellex advised Sampension in the transaction with European Energy.  Ellex team was lead by M&A partner Sarmis Spilbergs in collaboration with senior associates Kaspars Oļševskis, Zane Miglāne and Niklāvs Zieds, senior counsel Iveta Ceple and associate Ineta Kaņepe.