Futureal Energy Partners (FEP), a business unit of Hungary's Futureal Group has acquired one of Aretis Group’s battery energy storage system (BESS) portfolios in Latvia, which has a capacity of 45 megawatts (MW) and a storage capacity of 120 megawatt-hours (MWh), the company announced to MTI on Wednesday.
The transaction includes two greenfield projects currently underway in the Riga area (Bolderaja and Bisuciems). With permits in hand, construction is expected to begin in July 2026, and commercial operation is anticipated in November.
According to the announcement, the acquisition further expands the European renewable energy portfolio of the Futureal Group’s business unit dedicated to energy trading and the comprehensive implementation of energy projects, which already includes solar and energy storage projects in Finland, a solar power plant project in Hungary, and a 45 MW wind farm in Poland.
The main source of expected revenue from the energy storage facilities will come from balancing and system operation services that support the reliable operation and flexibility of the electricity grid. Following the Baltic states’ connection to the continental European power grid last year, demand for balancing and system operation services – which ensure grid flexibility – has increased significantly, the company reported.
Top 5 Articles
What Awaits the Hungarian Economy in 2026 and 2027? April 24, 2026 - 'Recharge' Campaign Launched to Boost Domestic Tourism January 21, 2026
- Hungary’s Growth Stalls as Inflation Returns to Target Range February 6, 2026
- Consolidating the Good Bilateral Relations May 10, 2026
- Business, Consumer Confidence at Two-Year High in April April 23, 2026
