European Energy discusses sale of newly-connected Danish solar farm

Source: European Energy

December 3 (Renewables Now) - Danish wind and solar developer European Energy A/S said today it has completed a 34-MW solar farm in the city of Holbaek and is currently holding talks to sell the asset.

The project in question is called Svinningegarden and has been under construction since March 2021. It has the capacity to produce enough power to supply over 6,500 homes.

European Energy did not disclose the name of the potential buyer but mentioned it expects a deal to be closed by the end of 2021.

“The level of construction activity for European Energy has never been higher. We’re committed to the expansion of green energy and before the end of 2021, we will see the completion of many more projects from European Energy,” CEO Knud Erik Andersen commented.

The company had 27 projects under construction in seven countries at the end of the third quarter. It anticipates achieving its year-end targets with EUR 80 million (USD 90.4m) in earnings before interest, tax, depreciation and amortisation (EBITDA) and EUR 50 million in after-tax profit.

(EUR 1.0 = USD 1.130)

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