European Energy Secures €68 Million Financing for Latvian Solar PV
European Energy, a leading Danish renewables developer, has announced the successful acquisition of €68 million (US$73.4 million) in financing for the construction of a
This will be the company's largest solar PV plant in the country and one of the largest in Latvia. The project will expand the size of the Brocēni plant, which European Energy announced in 2023, a 115MW solar PV farm located in the western part of the country.
Notably, NIB's EUR 28 million loan is supported by the European Union's InvestEU Framework Operation on Clean Energy Transition, marking NIB's first InvestEU loan in Latvia. “European Energy is keen on driving the transition from fossil fuels to renewable energy in the Baltics,” stated Jens-Peter Zink, Deputy CEO of European Energy.
Spanish inverter manufacturer Ingeteam has secured a contract from Danish developer European Energy to supply its technology to two solar PV power plants in Australia, totalling an installed generation capacity of 137MW. Technique Solaire has raised €302 million (US$343 million) in senior debt financing to build its European PV portfolio.
Developed by its subsidiary, Stelo Orienta SIA, European Energy expects to begin construction in 2025. The solar farm is expected to be connected to the grid during the first quarter of 2026 before starting commercial operations in the first half of 2026.
PDF version includes complete article with source references. Suitable for printing and offline reading.
Download detailed specifications, case studies, and technical data sheets for our ESS containers and containerized PV systems.
15 Rue des Énergies Renouvelables
Paris 75015, France
+33 1 84 83 72 76
Monday - Friday: 8:30 AM - 6:30 PM CET