Better Energy To Delay 3 GW Solar Capacity Plans Until After 2030

Denmark-based solar energy developer Better Energy plans to postpone 3 GW of its upcoming solar power capacity in Denmark until after 2030, citing increasing occurrence and a sharp increase in the number of hours with negative electricity prices across Europe.  

In Denmark alone, it claims, the negative prices have broken a new record as per preliminary figures available for 2024, as compared to 2023 which the company says was also a record year. 

It believes that despite political commitments to increase electrification in the fields of transport, green fuels, heavy industry and society at large, and promoting more flexible electricity consumption, the on-ground situation has not yet fully aligned with these ambitions.  

“We are looking at a market towards 2030 where, on the one hand, there is a need for a lot of renewable energy in Europe. But on the other hand, we are also looking into a market situation where the rest of the electrification of our societies is lagging behind,” explained Better Energy CEO Lildholdt Kjær. “We still firmly believe in the necessity and urgency of a full-scale transition to green energy, but it is fundamental that the production of green energy follows the demand.” 

Referring to the shifting of projects till after 2030 in response to these factors, the CEO added, “We react swiftly to market signals to ensure that we are in the right position and aligned towards the market situation we are heading into.” 

Better Energy will now sharpen its focus on its core business and focus on markets as per their growth in terms of energy transition. 

“Until now, our mantra has been as much renewable energy as possible, as quickly as possible. Going forward it will be green energy in the right place at the right time. This is a strategic direction we have already set and which we are now fully implementing,” stated Kjær.