Futureal Energy Partners (FEP) has purchased a portfolio of battery energy storage system (BESS) projects in Latvia from Aretis Group (AG), as the company moves into the rapidly growing Baltic energy storage sector.
The transaction comprises two standalone BESS sites in Riga with a combined capacity of 45MW/120MWh and will complement the company’s expanding European renewable energy portfolio with current investments in Finland, Hungary and Poland, FEP said in a statement.
The Baltic portfolio includes the Bolderaja and Bisuciems projects, which were developed from greenfield stage by Latvian renewable energy developer AG. The projects have already secured key development milestones, including grid connection agreements and building permits and construction is expected to begin in July 2026, FEP said.
Daniel Szentirmai, co-founder and CEO of Futureal Energy Partners, said: “The Baltics have rapidly emerged as one of Europe’s most attractive energy storage markets. Latvia offers strong long-term market fundamentals, and we see considerable further opportunities across the region.”
The Baltic states joined the continental European electricity grid in 2025 as a counterweight to growing regional energy instability following Russia’s invasion of Ukraine. Since then, FEP said demand for grid flexibility, balancing capacity and ancillary services had increased significantly, reinforcing the critical role of battery energy storage infrastructure in the region.
AG developed the BESS portfolio purchased by FEP from the initial greenfield stage through permitting and grid connection approval, advancing the projects toward construction readiness.
Arturs Plume, CEO and founder of AG, said: “We are proud to cooperate with Futureal Energy Partners on this transaction. Their long-term investment approach and expertise in energy infrastructure make them a strong partner for accelerating the deployment of energy storage solutions in the Baltics.”
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