European Energy has sold bonds for 100 million euros, equivalent to around 750 million kroner, in 24 hours.
The company announced this in a press release.
The new bond has a variable interest rate based on three-month EURIBOR with a surcharge of 3.75 percentage points.
The proceeds will be used to finance the company's growing construction program within solar, wind and battery storage. By the end of the first half of 2025, the company's ongoing construction program had grown by 41 percent compared to the previous year and included 1,665 MW of capacity.
At the same time, European Energy has a project pipeline of over 60 GW in 25 countries across six different technologies.
- Now that our growth strategy is taking shape, we are significantly increasing our construction program. This expansion, combined with our ambition to integrate battery solutions into all our projects, requires additional financial capacity, says Jens-Peter Zink, Deputy CEO of European Energy.
He also points out that a strengthened financial basis makes it possible to exploit more of the opportunities in the development portfolio.
European Energy aims to install 1 GWh of battery capacity in the Nordic and Baltic regions by 2027 and expand the solutions to the UK, Australia and Poland.
According to the company's CFO, Flemming Jacobsen, the new issuance is a sign of continued high confidence from investors in the company's role in the green transition.
ap
Text, graphics, images, sound, and other content on this website are protected under copyright law. DK Medier reserves all rights to the content, including the right to exploit the content for the purpose of text and data mining, cf. Section 11b of the Copyright Act and Article 4 of the DSM Directive.
Customers with IP agreements/major customer agreements may only share Danish Offshore Industry articles internally for the purpose of handling specific cases. Sharing in connection with specific cases refers to journaling, archiving, or similar uses.
Customers with a personal subscription/login may not share Danish Offshore Industry articles with individuals who do not themselves have a personal subscription to Danish Offshore Industry.
Any deviation from the above requires written consent from DK Medier.
