European Energy has raised an additional 60 million euros (approximately 447 million kroner) through an extension of its existing bond loan maturing in 2028. After the extension, the total bond loan amounts to 210 million euros (approximately 1.56 billion kroner), the company announced in a press release.
The capital injection will be used to advance the company's project portfolio across its core markets. This applies to projects within solar, wind, battery solutions and PtX, which will be further advanced through the late development phases, the construction phase and towards operation.
According to the company, the greater access to capital in the development phase will make it possible to advance more projects simultaneously and reduce dependence on external timing factors. It will also provide a smoother flow of projects to the market and greater flexibility in the way they are realized.
European Energy further states that the expanded financing will support more projects reaching stages where they are ready for construction or commissioning. This is typically where institutional and strategic investors step in.
- The expansion of our project portfolio is central to the way we create value together with our partners. The additional financing supports a broader base of risk-reduced assets, which allows for more structured transactions and better investment opportunities, says Jens-Peter Zink, Deputy CEO of European Energy.
The company also points out that a larger and more mature project portfolio can provide more investment opportunities and a more predictable transaction flow. This will be done, among other things, through structures such as co-investments, phased divestments and models with long-term ownership.
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