In Short : In December, European Energy successfully sold renewable projects, totaling over 100 megawatts. This transaction reflects the ongoing momentum in the renewable energy sector, with companies actively contributing to the expansion of clean and sustainable energy projects across Europe.
In Detail : While the UK solar plant has 40.4MW capacity, the German wind farm has 12.6MW of power generating capacity.
Denmark-based energy company European Energy has offloaded three renewable projects in Europe, totalling more than 100MW, in December 2023.
The divested projects include the Bubney solar farm in the UK and the Bloosballich wind farm in Germany.
Located in Shropshire, West Midlands, UK, the Bubney solar farm has 40.4MW capacity.
Construction on the project began in September 2022 and it was connected to the grid in August this year. This project has been sold to Elm Trading Group, an independent power producer.
The Bloosballich wind farm is a 12.6MW wind farm featuring three Enercon turbines, each with 4.2MW capacity.
Located in Saxony Anhalt in Germany, it was commissioned last month. This wind farm has been sold to a local family office.
European Energy deputy CEO Jens-Peter Zink said: “Our divestment efforts in December demonstrate a strong and growing market interest in the renewable energy projects we offer.
“The increasing interest in renewable energy projects is further strengthened by the market belief that the central bank rate hiking cycle has come to an end.
Jens-Peter Zink further noted: “This year, European Energy has achieved solid results in project development, power production, and project divestments. We have gained momentum throughout the year, and the full-year financial results are expected to be in line with guidance.”
The company has sold several of its projects, totalling more than 1.1GW, throughout this year.
These divestments span across several countries including Denmark with 356MW, the US with 346MW, Italy with 237.4MW, the UK with 107.4MW, as well as Germany with 75.6MW.
Last month, the company sold its 50% stake in its 163MW Italian solar farm to asset management company Sosteneo.
The project is expected to generate 350GWh of power annually, sufficient to meet the needs of about 80,000 homes, and contribute to 98,000t of CO2 savings per year.