Sydbank risks losing a large three-digit million amount after the development company Better Energy has requested the reconstruction. The bank writes in a company announcement that it is adjusting its expectations for the year's result downwards based on the reconstruction application from Better Energy, which has borrowed money from Sydbank, among others.
Previously, it expected a profit after tax of between 2.8 and 3.1 billion. DKK.. Now the expectation is a result of between 2.7 and 2.9 billion. DKK.. However, the bank writes that there is a risk of write-downs in the region of 450 million. DKK..
Another player in the financial sector also risks having to wave goodbye to a large amount of money as a result of Better Energy's financial problems.
The pension company ATP, which has more than five million Danes as customers, invested a large three-digit amount in the company in 2022. Even if Better Energy survives the reconstruction, a large part of the invested capital will probably be lost.
Better Energy has been building renewable energy plants in Denmark, Sweden and Poland for more than ten years, including a large number of solar parks.
The company's business model has been to resell ownership shares in the built plants in order to finance new projects. However, market conditions have changed significantly over the past year, and this has contributed to sending Better Energy into reconstruction, the company said in a press release on Thursday.
/ritzau/
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