Riga BESS project site under construction with battery containers
Futureal Energy Partners (FEP) has made a strategic entry into the rapidly expanding Baltic energy storage market, acquiring a portfolio of two battery energy storage system (BESS) projects in Riga, Latvia. The acquisition from Aretis Group includes the Bolderaja and Bisuciems projects, which boast a combined capacity of 45 MW/120 MWh.
These greenfield projects have already secured crucial development milestones, including grid connection agreements and building permits. Construction is slated to commence in July 2026, with commercial operations targeted for November 2026, positioning them to play a vital role in Latvia’s energy infrastructure.
Daniel Szentirmai, co-founder and CEO of Futureal Energy Partners, underscored the strategic importance of this move. He noted that the Baltics have quickly emerged as one of Europe’s most attractive energy storage markets, where flexible energy infrastructure is critical for grid stability and accelerating renewable energy integration. This acquisition aligns perfectly with FEP’s broader strategy, further enhancing its expanding European renewable energy portfolio, which already includes investments in Finland, Hungary, and Poland.
FEP is dedicated to providing affordable green energy, leveraging state-of-the-art technology for its group companies, real estate developments, and third-party clients. By building strategic partnerships and investing in onshore wind, solar, and energy storage, the company actively supports developers in driving Europe’s green transition and achieving carbon neutrality targets.
In related real estate news, the Hungarian market is signaling a return of international investor confidence. Wing recently acquired the 34,000 sqm Capital Square office complex in Budapest from CA Immo, reinforcing its commitment to the domestic office sector. Simultaneously, HelloParks sold its fully leased, BREEAM-accredited FT1 logistics warehouse in Fót to an international investor. Gábor Futó, founder of HelloParks and Futureal Group, highlighted that falling risk premiums and improving government bond yields are enhancing Hungary’s investment profile, attracting significant international capital and leading to liquidity growth and yield compression in the industrial and logistics real estate sector.
About the Author
