Better Energy gets EUR-33m loan for 51 MW of solar in Denmark

Clean energy company Better Energy has secured a EUR-33-million (USD 39.3m) loan from the Danish Green Investment Fund (GIF) to build a 51-MW solar park.

The developer said in a statement on Monday that the proposed solar farm will consist of four separate arrays and is seen to become Denmark’s third largest photovoltaic (PV) facility, following completion.

The plants will be installed in Nees, West Jutland, comprising 160,000 panels. Once completed, they will be able to generate enough electricity to meet the demand of about 11,000 local homes each year. Better Energy said it is building the four PV facilities in parallel and expects to put them on stream in November or December.

“There is a common misconception that Denmark is not suitable for solar energy, but solar cells are most efficient in clear sun at low temperatures, and solar radiation is quite high in areas such as West Jutland, said Rasmus Kjaer, co-founder and managing partner at Better Energy. The developer says it expects the GIF financing to attract more financiers in Denmark for future projects.

(EUR 1.0 = USD 1.192)

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