- European Energy, Sampension and Nova Holdings have announced a partnership to construct renewable energy assets
- They will acquire agricultural land suitable for the construction of solar and wind projects and also convert lowland soils to green energy production
- The partners have pooled in DKK 650 million as starting capital, and expect the fund to grow to a total of DKK 1.5 billion
Danish renewable energy company European Energy A/S is to set expand its operations in the European nations of Denmark and Sweden under a new partnership with life science investor Novo Holdings and Danish pension fund manager Sampension.
Under the partnership with a starting capital of DKK 650 million ($104 million), the trio will purchase agricultural land suitable for the construction of solar and wind farms in the 2 countries, with European Energy handling the project development on acquired lands.
Agrivoltaics is part of the plan as the partners explore opportunities to combine food production and energy production, as well as converting lowland soils to green energy production. It will strengthen conditions for cleaner groundwater, while facilitating green energy transition for these countries.
They estimate the investments to grow to a total of DKK 1.5 billion ($239 million) through debt financing.
“With this new partnership, we are helping to lay a foundation for further development of solar and wind farms in Denmark and Sweden, while at the same time ensuring our customers a good return on investment on the land areas,” explained CIO of Sampension Henrik Olejasz Larsen. European Energy is handling the operation of Sampension’s wind farms.
In a related news from European Energy, it announced successful completion of €75 million ($12 million) tap issuance on its hybrid green bond. The company claims to have initiated the construction of over 1 GW renewable energy capacity in 2021 and expects to bring online 750 MW in 2021.
“We are very happy with the opportunities to fund our accelerated construction program through the well-functioning Nordic bond market,” said European Energy’s CEO Knud Erik Andersen.
Jan Vedde of European Energy will share the developer’s perspective on Experience with Solar Tracker in the northern Northern Hemisphere during the Solar Trackers—How to Follow The Sun Optimally To Maximize Yield Of Utility-Scale PV Systems virtual conference of TaiyangNews to be held on April 13, 2021 where we will launch our 1st Market Survey on Solar Trackers. Free registration here.