It will be European Energy's first project in Latvia and the largest solar park in Latvia. The Tārgale solar park is expected to be connected to the electricity grid in 2024 and will generate approximately 110,000 MWh of green energy annually, providing around 52,000 households with their annual electricity consumption.
European Energy started developing renewable energy projects in Latvia in 2021, and with the opening of its office in Riga, four employees have joined the company in Latvia. Currently, the company has more than one gigawatt's worth of developments in the pipeline in Latvia, including both solar and wind projects.
“The opening of the new office in Riga is an important manifestation of European Energy´s strong engagement in Latvia. The development of wind and solar projects will make an important contribution to Latvia´s green transition and long-term energy security,” said Flemming Stender, Ambassador of Denmark to Latvia.
"European Energy's mission is to harness the resources of wind and solar energy provided by nature, combined with the latest technologies, to create value for our partners and society as a whole. The renewable energy projects we are implementing today are an investment in a future where society will no longer have to use fossil resources," said Knud Erik Andersen, CEO and co-founder of European Energy.
European Energy is based in Copenhagen, Denmark and it has significant experience in the development and deployment of renewable energy in four continents. European Energy was founded in 2004 and has now developed more than 20 GW of renewable energy capacity globally.