European Energy has commenced construction on a 148 MW solar farm near Targale, set to become one of the largest solar projects in Latvia. Located in Ventspils County, the solar farm is expected to be connected to the grid by the end of 2025.
While Latvia has ambitious climate goals and a long history of utilizing hydropower, the potential for solar energy remains largely untapped. Alnis Baliņs, Head of the Riga office of European Energy Latvia, emphasized the need for further development in renewable energy. He stated, “Electricity production from renewable sources in Latvia has seen significant growth in recent years, but the momentum gained so far is not enough, and there is still too little solar and wind energy in the region. We hope to change this with the new solar farm.”
The solar farm will feature 240,000 solar panels, contributing to the country's energy independence and increasing the share of renewables in the overall energy mix. Despite progress, Latvia has lagged behind its neighbors in constructing solar energy parks. As of 2023, Estonia's solar power capacity reached 822 MW, and Lithuania's stood at 1,165 MW, compared to Latvia's 500 MW.
Thorvald Spanggaard, executive vice president and head of project development at European Energy, noted that according to the Latvian National Energy and Climate Plan, the share of renewable energy in electricity generation is expected to increase from 53% to 80% by 2030. He added, “To achieve this target, both wind and solar energy production must be expanded. A key driver for this development will be consumers of electricity—both state and private—being willing to enter into long-term agreements to buy green energy. This aligns perfectly with European Energy's vision and development strategy.”
