Andel snaps up 55-MW Danish solar park from European Energy

Danish co-operatively owned energy and fibre company Andel has acquired a 55-MW solar park in its home country from compatriot European Energy A/S, the latter said on Monday.

The value of the transaction, which also includes a 30-year lease on the asset’s land, was kept under wraps.

The Tryggevælde photovoltaic (PV) farm is near the town of Faxe, on the island of Zealand in eastern Denmark, and has been generating electricity since January 2022. Its annual output of 60 million kWh is estimated to be enough to cover the power consumption of around 15,000 homes.

European Energy will continue to oversee the Tryggevælde solar park’s operations.

For Andel, the purchase is a move that will enhance the company’s focus on renewable energy, its CEO Jesper Hjulmand explained.

According to Andel’s website, around 40% of the electricity supplied in Denmark is delivered through its network companies. The group holds a 5.01% stake in energy major Ørsted A/S (CPH:ORSTED) and together with it owns the 207-MW Rødsand 2 offshore wind farm off the Danish island of Lolland in the Baltic Sea.

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