- European Energy has begun constructing Latvia’s largest solar farm, boasting a capacity of 148 MW and featuring 240,000 solar panels.
- The solar farm will produce around 154,550 MWh annually to power approximately 40,000 households, supporting Latvia’s energy independence and renewable energy goals.
- This project, expected to connect to the grid by the end of 2025, aims to increase the share of renewable energy in Latvia’s electricity generation from 53% to 80% by 2030.
European Energy has started construction on Latvia’s largest solar farm, which will have a capacity of 148 megawatts (MW). Located near Targale in Ventspils County, the project aims to boost the country’s energy independence and increase renewable energy use.
The solar farm will feature 240,000 solar panels and produce around 154,550 megawatt-hours (MWh) annually. This energy can power approximately 40,000 households, significantly meeting local energy needs.
The company expects the solar farm to connect to the electrical grid by the end of 2025. This initiative supports Latvia’s climate goals, which focus on expanding the use of renewable energies. Although the country has a strong history with hydroelectric power, it has largely neglected its solar potential.
Alnis Bāliņš, head of European Energy Latvia’s Riga office, noted the growth in renewable electricity production in recent years. However, he pointed out that the current pace remains insufficient, highlighting the need for more solar and wind energy development.
Latvia has lagged behind its Baltic neighbours in solar energy capacity. 2023 Estonia’s solar power capacity reached 822 MW, and Lithuania’s hit 1,165 MW. In contrast, Latvia’s solar capacity stood at only 500 MW. This new solar project represents a crucial advancement for Latvia, helping to enhance its position in the renewable energy market.
Thorvald Spanggaard, Executive Vice President and Head of Project Development at European Energy, described Latvia as a critical market. He noted the growing demand for renewable energy in the region. The Latvian National Energy and Climate Plan aims to increase the share of renewable energy in electricity generation from 53% to 80% by 2030.
Wind and solar energy production must accelerate to meet this target. A significant factor will be the willingness of public and private electricity consumers to enter long-term agreements for green energy. This approach aligns perfectly with European Energy’s vision and development strategy.
This solar farm project represents more than just a step towards energy independence. It exemplifies how companies can contribute to the energy transition in Europe. By investing in renewable energy, European Energy supports the broader shift towards sustainable power.
The new facility will create jobs during construction and foster economic growth in the Ventspils region. The influx of renewable energy resources will also promote local investments in green technology and infrastructure.
Projects like this solar farm become essential as Europe approaches its climate targets. They provide a model for balancing energy needs with environmental responsibilities. European Energy’s initiative demonstrates a commitment to sustainable practices while addressing energy demands.
Latvia has the opportunity to harness its solar potential more effectively through this project. The country can enhance its energy security and resilience by diversifying its energy sources.
In conclusion, European Energy’s solar farm in Latvia marks a pivotal development in the country’s renewable energy landscape. With its substantial capacity and commitment to sustainability, this project will significantly contribute to Latvia’s energy goals.
It sets a precedent for future investments in renewable energy, demonstrating how the private sector can lead the way in the transition to a greener economy. As construction progresses, the region will closely watch this project as a benchmark for success in the renewable energy sector.