en.Wedoany.com Reported - European Energy has commissioned the 148MWp Tārgale Solar Park in Ventspils, Latvia, marking the company's first renewable energy project built and fully connected to the grid in the country.

The €80 million project is expected to generate approximately 154,550 MWh of electricity annually.

The project is supported by a 110MW Corporate Power Purchase Agreement (PPA) between European Energy and Apple Inc., and is co-owned with Danish pension fund Sampension, which holds a 50% stake.

Alnis Bāliņš, Country Manager for European Energy in Latvia, stated that this is the company's first completed project in the country and the first of several currently under development. Throughout the process, the team worked closely with local stakeholders and communities to contribute to the broader development of renewable energy in Latvia.

Jens-Peter Zink, Deputy CEO of European Energy, noted that Latvia has favorable conditions for further renewable energy development. The completion of the Tārgale Solar Park demonstrates how collaboration among local stakeholders, international investors, and project partners can support the expansion of renewable energy generation and strengthen the region's energy supply.

This project is one of the first corporate PPAs signed in Latvia and the largest single-plant corporate PPA in the Baltic states, at 110MW.

European Energy Latvia has also established the Ventspils Social Foundation, which allocated €50,000 to local projects in 2026.

European Energy is developing more projects in Latvia, including a hybrid solar and battery energy storage system project in Saldus, scheduled for completion in autumn 2026.

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