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European Energy A/S Divests 50 MW Solar Farm in Denmark

Source: 8/3/2020, Location: Europe

European Energy A/S has signed an agreement for the sale of Solar Park Hanstholmvej in Denmark with a total capacity of approximately 50 MW. The buyer is the LHI Group, a German investment management company.

The solar park is the first of its kind in Denmark with bi-facial modules, meaning that the panels absorb sunlight from both sides of the panel. This increases the productivity so that it can generate more green power on the same space compared to a traditional solar park.

Knud Erik Andersen, CEO of European Energy, said:
“Solar Park Hanstholmvej has been an important project for us, as this is the first time, we have utilized bifacial modules in Denmark, which means that we can also utilize diffused light to generate green electricity. Thisted Municipality has been a crucial player in the realization of the project, and we are incredibly pleased with the collaboration around this visionary project, which can help accelerate the green transition in Denmark.”

The plant is also the first in category D in Denmark, which means that the plant has more than 25 MW in a grid-connection point, and the solar park is also the first in Denmark to be connected according to the new EU regulations (RfG) valid from April, 2019.

A corporate power purchase agreement (CPPA) has been made with a large international company for the project. The CPPA is a long-term agreement, which ensures green electricity at a competitive fixed price for the customer.

Knud Erik Andersen, CEO of European Energy, said:
“We are incredibly proud that we can contribute to companies being able to achieve their green ambitions. A CPPA reduces companies' risk of price fluctuations in electricity prices while giving them 100% renewable energy. It benefits not only the companies, but the whole society, when companies actively decide where their power comes from, so we hope that even more companies will contact us in the future.”

European Energy has been responsible for the construction and will remain responsible for the operation and administration of the project after the transfer. In this park, sheep will take care of grazing the area.

Franz Unterbichler, Managing Director of LHI KVG, mbH said:
"We are very pleased to work with such an experienced and professional partner as European Energy, so it was easy for us to invest in Denmark, a new market for us.”

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