European Energy received €40 million from Danish Green Investment Fund
Post date: 27/11/2020 - 11:21
Danish renewables developer European Energy A/S has been granted a €40 million loan facility by the Danish Green Investment Fund to help boost the construction of large scale wind and solar projects. The cooperation with the Danish Green Investment Fund will support the aims of European Energy to construct 750 MW new green power capacity from solar and wind by 2021 and an additional 1 GW in 2022.
The company aims to build a solar plant near Danish municipality of Aabenraa, which will be »the biggest solar power facility in Northern Europe,« says Knud Erik Andersen, CEO at European Energy. This project will entail fixed asset investments totaling more than €150 million.
The Danish Green Investment Fund is one out of four public funds that have been provided additional funding to ensure investment for green businesses and entrepreneurs. Together with Vaekstfonden, the Danish state’s investment fund, the Danish Green Investment Fund has been strengthened by additional €1,5 billion.
European Energy constructs wind and solar farms as well as large scale green energy storage. Based in Copenhagen, Denmark, since the company’s inception in 2004, it has delivered 1,153 MW of Wind and 510 MW of solar assets across 11 countries, totaling a cumulative investment of €2,290 million. Current development pipeline totals 16 GW with 1 GW in ready-to-build status and more than 300 MW currently under construction. 11 GW is PV.