Denmark-based European Energy has received EUR 37.9 million in long-term financing from Luminor to build a hybrid solar and battery project in Saldus, Latvia. The plan includes a 65 MW solar park and a 92 MWh battery system across 96 hectares. European Energy and Sampension co-own the project. Construction is expected to finish in the second half of 2026. The battery system is intended to support grid stability and manage supply and demand after Latvia disconnected from the BRELL network. Latvia already sources most of its electricity from renewables and rising solar deployment has increased demand for modern storage. Luminor said the financing supported Latvia’s shift toward a more flexible power system and strengthened ongoing cooperation with European Energy.