Renewable

May 11 (Renewables Now) - Danish renewables developer European Energy A/S has hired a financial advisor to help it sell a 10% stake in the company, Bloomberg reported, quoting people familiar with the matter.

The proceeds of such a transaction would support European Energy’s further expansion, the report says.

According to the insiders, a deal could value the entire company at between EUR 2.5 billion (USD 2.64bn) and EUR 3 billion. There is no certainty that an agreement will be reached though, the sources have noted.

The Copenhagen-based company is engaged in the development, financing, construction and operation of wind and solar parks along with large-scale Power-to-X plants. It says it has over 20 GW of projects in development and more than 1.2 GW under construction. The firm has activities all over Europe as well as in Brazil, Australia and the US.

(EUR 1.0 = USD 1.056)

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