Danish duo to add over 1 GW of solar in three EU countries

Danish renewable energy company Better Energy and domestic pension fund Industriens Pension will jointly invest more than 800 million (EUR 874m) to build solar parks with a combined capacity of 1 GW in three European countries.

The plan envisages the construction of 15 photovoltaic (PV) parks in Denmark, Sweden, and Poland, Better Energy said on Thursday. The capacity will be installed by the end of next year, with no subsidies.

The initiative will expand an existing partnership between the compatriots involving 21 solar parks, taking the overall capacity of their projects to around 2 GW. The investment in the 36 projects, including the 15 newly announced, will amount to EUR 1.5 billion. A portion of the total sum is equity from both companies, while the balance will come from long-term construction debt.

Under the arrangement, Industriens Pension and Better Energy will each own 50% of the completed solar power plants. Better Energy will take care of the project development, construction, and operation and will also handle power generation sales.

“The new parks will be another step towards ensuring a more independent energy supply, and they have a very good climate effect per EUR invested,” said Peter Lindegaard, CIO of Industriens Pension.

(EUR 1.0 = USD 1.092)

Choose your newsletter by Renewables Now. Join for free!