Futureal Enters Latvia’s Energy Storage Market and Develops Wind Farm in Poland
Central European real estate developer and investor Futureal Energy Partners has completed the acquisition of a portfolio of battery energy storage projects in Latvia with a combined capacity of 45 MW and 120 MWh. All acquired projects are fully ready for construction. The transaction marks the group’s official entry into Latvia’s utility-scale energy storage market.
The investment aligns with the company’s broader strategy across Central and Eastern Europe, where Futureal is currently developing several renewable energy projects, including the 45 MW Jarszewo onshore wind farm in Poland’s West Pomeranian Voivodeship.
Construction Timeline and Business Model
The Latvian projects were acquired from local developer Aretis Group (formerly known as Solar Energy Fund) for an undisclosed amount. The portfolio consists of two standalone BESS facilities located in the Riga metropolitan area: the Bolderaja project (15 MW / 40 MWh) and the Bisuciems project (30 MW / 80 MWh). Both projects have secured grid connection agreements and obtained all required construction permits.
Construction is scheduled to begin in July 2026. The battery systems will be connected directly to the medium-voltage distribution network, with full commercial operation expected by November 2026.
Once commissioned, the facilities will support the operational stability of Latvia’s electricity system. Revenue generation will primarily come from providing commercial ancillary services, balancing services, and reserve capacity regulation for the grid operator.
Expanding a European Renewable Energy Portfolio with a Polish Component
The Latvian investment represents another step in the diversification of Futureal’s renewable energy portfolio across Europe. The company already owns solar and battery storage assets in Finland, a photovoltaic power plant in Hungary, and the aforementioned 45 MW wind farm currently under construction in Poland.
Daniel Szentirmai, Co-Founder and Chief Executive Officer of Futureal Energy Partners, stated that the acquisition is fully aligned with the company’s strategy of investing in flexible energy infrastructure in markets where energy storage technology plays a critical role in grid stabilization and accelerates the integration of new renewable energy generation capacity.