Denmark based renewable energy developer European Energy has unveiled ambitious plans to develop 10 GW renewable energy capacity in the US market by 2026 through a new subsidiary called EE North America.
The new subsidiary is based out of Texas and has already purchased more than 7,000 acres of land to develop its first US solar projects. This comprises 1 GW solar in Texas and additional facilities in the Western US.
EE North America is also exploring green hydrogen and e-methanol projects in the US with their applications in transportation, home heating, and heavy industry.
"European Energy views the US as a critical market for solar and wind power, as well as technologies like Power-to-X that will be essential solutions in decarbonizing the hardest-to-abate sectors of the economy," said CEO of European Energy, Knud Erik Andersen.
EE North America's CEO Lorena Ciciriello stated that the company's energy solutions are commercially mature and financially viable today. It will continue to look for additional partnerships to grow in the country.
European Energy ventured into the US market in 2021 under a joint venture (JV) partnership with a local company called Renewable Energy International with a solar project pipeline of 450 MW. Back then European Energy said it was buying 1,276 acres of land in Texas for a solar project (see European Energy To Explore Solar Power Market In US).
Back home in Europe, European Energy recently said it has a development pipeline of 935 MW renewable energy comprising 9 projects with 810 MW solar and 1 with 125 MW wind energy in Romania. "The plan is for the company to use the renewable energy to fuel Power-to-X technologies such as green hydrogen and e-methanol," it added.
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