In a major stride toward Europe’s renewable transition, European Energy announced the sale of a 50% stake in the 111 MW Saldus solar + battery energy storage system (BESS) project in Latvia to Danish pension fund Sampension on October 24, 2025. While the deal value remains undisclosed, this strategic move marks another milestone in the long-standing partnership between the two companies, advancing both capital recycling and sustainable investment objectives.

European Energy’s decision to sell half of the Saldus project reflects its agile approach to financing large-scale renewable projects. By divesting part of its operational and under-construction assets, the company frees up capital to invest in new developments across Europe — an approach that fuels its impressive 65 GW global pipeline across 25 countries. This partnership with Sampension isn’t new; it builds on their successful collaboration in the 148 MW Ventspils solar park, reinforcing their mutual commitment to renewable energy development in Latvia.

For Sampension, the deal is a calculated step in expanding its renewable portfolio. The pension fund continues to focus on investments that ensure stable, long-term returns while directly contributing to the global energy transition. Through ventures like Saldus, Sampension solidifies its reputation as a forward-thinking institutional investor dedicated to climate-conscious capital deployment.

The Saldus solar + BESS project embodies innovation and sustainability. Featuring a 65 MW solar PV plant paired with a 46 MW battery storage system, the project combines power generation with energy flexibility — a crucial component for modern grids. The construction, which began in July 2025, is slated for completion by May 2026, at which point it will begin delivering clean electricity to the Latvian grid.

Equipped with both fixed-tilt and tracker technologies, Saldus is designed for optimal energy production and efficiency. Beyond its technological sophistication, the project supports Latvia’s national energy agenda, particularly the ambitious goal of sourcing 57% of electricity from renewables by 2030.

This transaction underscores a broader trend: institutional investors are increasingly drawn to renewable infrastructure as a reliable, impact-driven asset class. By partnering on Saldus, European Energy and Sampension demonstrate how collaboration between developers and pension funds can accelerate Europe’s green transformation. The project’s battery component, in particular, highlights the shift toward hybrid solutions that strengthen grid resilience and ensure energy stability even as renewable penetration rises.

As European Energy continues expanding its renewable footprint, partnerships like these will play a pivotal role in achieving global energy transition goals. For investors and developers alike, the Saldus project is more than just a deal — it’s a blueprint for sustainable collaboration and responsible growth in the clean energy era.

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