European Energy agrees exit from 55-MW solar park in Denmark

Danish renewables developer European Energy A/S has inked a deal to sell a domestic solar park with a total capacity of 55 MW, with the divestment expected to have a positive impact on the company’s financial position.

The acquirer of the site and the price tag of the deal were not disclosed. The transaction is set to close in 2022.

The solar plant to be sold was connected to the grid in January 2022. Its production capacity is enough to cover the electricity needs of 15,000 households.

The developer noted that it still projects an EBITDA of EUR 135 million (USD 143.54m) and a pretax profit of EUR 100 million in 2022.

The divestment agreement comes shortly after European Energy last week acquired a majority stake in Australia’s Austrom Hydrogen Pty Ltd.

(EUR 1 = USD 1.063)

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