Independent power producers (IPPs) Greenvolt and European Energy have finalised financial deals for solar-plus-storage projects in Denmark and Latvia, with the former raising funds from Ringkjøbing Landbobank and the latter divesting from its project.
Greenvolt secures €35 million project finance
Ringkjøbing Landbobank has agreed a €35 million (US$40.6 million) project finance deal with IPP Greenvolt for a solar-plus-storage project in Denmark.
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The project pairs 97.36MW of solar PV with a battery energy storage system (BESS) of between 55-60MW in power and 110-120MWh in capacity. The BESS will increase the output of the PV plant.
The project in Høegholm is under construction and is expected to start operations in the first quarter of 2026, Greenvolt said. It would be larger than the current largest BESS in Denmark, a 30MW/43MWh unit completed by utility EWII in May, as well as a 45MWh project at which Eurowind Energy started construction in March.
European Energy divests from Latvian plant
European Energy has partially divested a solar and storage project in Latvia to Sampension, one of Denmark’s largest pension funds.
The IPP has sold 50% of its 111MW Saldus project, pairing 65MW of PV and a 46MW BESS, to the pension fund. It will allow European Energy to recycle capital into new projects. Construction started in July 2025 and is expected to be completed in May 2026.
Latvia is aiming for 57% renewable energy electricity generation by 2030. The country’s first grid-scale BESS came online in November 2024 and state-owned utility and power generation firm Latvenergo announced plans to deploy 250MW/500MWh of BESS by 2030, in February.
Read the full version of this story on our sister site Energy-Storage.news.
PV Tech publisher Solar Media will host the fifth edition of Large-Scale Solar Central and Eastern Europe in Warsaw, Poland, from 25-26 November 2025. The event will feature a packed programme of contributions from industry leaders responsible for the build-out of solar and storage projects in Poland, Bulgaria, Romania, Hungary and the Baltics. For more information, visit the event website.
