The 148 MWp Targale Solar Park is European Energy’s first completed renewable energy project in Latvia, supplying renewable electricity through one of the largest corporate PPAs in the Baltic region.
- European Energy will today inaugurate the 148 MWp Targale Solar Park in Ventspils Municipality, its first completed and fully grid-connected renewable energy project in Latvia.
- The EUR 80 million project is expected to generate approximately 154,550 MWh annually, equivalent to the electricity consumption of around 60,000 households, and is backed by a 110 MW corporate PPA with Apple.
- Developed in partnership with local stakeholders and co-owned with Sampension, the project combines renewable energy generation with community initiatives through the Ventspils Social Foundation and marks a further step in European Energy’s expansion in the Baltic region.
European Energy will inaugurate the Targale Solar Park in Ventspils Municipality today, marking the company’s first completed and fully grid-connected renewable energy project in Latvia.
The solar park has an installed capacity of 148 MWp and 110 MW at the grid connection point. Covering 138 hectares, the facility is expected to generate approximately 154,550 MWh of electricity annually, corresponding to the electricity consumption of around 60,000 households.
The project represents a total investment of EUR 80 million. Danish pension fund Sampension owns 50 per cent of the solar park.
'This is our first completed project in the country and the first of several projects currently under development. Throughout the process, we have worked closely with local stakeholders and communities while contributing to the broader development of renewable energy in Latvia,' said Alnis Balinš, Country Manager of European Energy Latvia.
'Latvia has strong conditions for further renewable energy development. The completion of Targale Solar Park demonstrates how cooperation between local stakeholders, international investors and project partners can support the expansion of renewable energy generation and strengthen energy supply in the region,' said Jens-Peter Zink, Deputy CEO of European Energy.
The solar park is supported by a Corporate Power Purchase Agreement (CPPA) with Apple. The agreement is among the first corporate PPAs signed in Latvia and, at 110 MW, is currently the largest corporate PPA from a single power plant in the Baltic countries.
During the development phase, comprehensive environmental and social impact assessments were carried out, including studies of biodiversity, hydrology, landscape considerations and potential impacts on local communities.
In connection with the project, European Energy Latvia established the Ventspils Social Foundation to support local initiatives in the surrounding communities. In 2026, the foundation allocated EUR 50,000 to local projects, including support for youth sports, community events and educational activities.
'Projects such as Targale Solar Park contribute to both energy production and local development. The project demonstrates how renewable energy investments can create value for municipalities and local communities alongside strengthening energy security,' said Andis Zarinš, Chairman of Ventspils Municipality.
European Energy continues to develop additional renewable energy projects in Latvia. The company’s next project in the country, a hybrid solar park combined with a battery energy storage system (BESS) in Saldus, is expected to be completed in autumn 2026.
About the project
- Location: Targale, Ventspils Municipality, Latvia
- Installed capacity: 148 MWp
- Grid connection capacity: 110 MW
- Expected annual generation: 154,550 MWh
- Area: 138 hectares
- Investment: EUR 80 million
- Ownership: 50% European Energy, 50% Sampension
Source: European Energy
