Andel acquires Tryggevælde Solar Park from European Energy

Andel expands its position as a producer of renewable energy by purchasing Tryggevælde Solar park from European Energy. The solar park has been in operation since the beginning of the year. The solar park produces energy equivalent to the electricity consumption of 15,000 households.

Tryggevælde Solar Park, located near Faxe in Denmark, has an energy capacity of 55 MW. It has been in production since January 2022.

The only viable solution to the climate crisis

“It is absolutely inevitable that Denmark will need much more energy from renewable energy sources. It is the only viable solution to the climate crisis and to our dependence on fossil fuels”, says CEO Jesper Hjulmand on the background of the purchase of Tryggevælde Solar Park. He adds that with the purchase Andel is increasing its focus on renewable energy:

“Andel will be at the forefront of the green transition and ensure that energy production is also anchored in a Danish cooperative-owned company in the future. The sun is a new source of energy for us, as we have so far focused strongly on the production of renewable energy from wind. We are committed to maintain this, among other things through the work with the future energy island in the North Sea, and we will continue to invest strategically in a broad value chain.”

Good partnerships are essential

An increased production of renewable energy is crucial if the green transformation of society is to take place. Therefore, it is also important that there are good partnerships between developers of green energy capacity and the electricity companies that sell the electricity to the end consumers.

“We are pleased with the cooperation, we have had with Andel around Tryggevælde Solar Park. Both Andel and European Energy recognize that the expansion of renewable energy capacity is the foundation for society’s future energy needs. For European Energy, it is important that there is a willingness to reduce the green power that our facilities produce. Only in this way can we ensure that there will be an ongoing willingness to invest in new renewable energy, which will ensure the green transition”, says Knud Erik Andersen, CEO of European Energy.

Will produce much more renewable energy

Today, the Andel Group is leading in electricity distribution as well as customer solutions within energy, fiber and charging electric cars. The energy production comes from the Rødsand 2 offshore wind farm and co-ownership of Ørsted. It is an important element in the long-term strategy to increase capacity in electricity production.

European Energy has developed, built and operates the Tryggevælde Solar Park, which produces approximately 60 million kilowatt-hours per year. In round numbers, this corresponds to the electricity consumption of 15,000 households. The park is located near Faxe and covers an area equivalent to approximately 100 football pitches. In connection with the deal, Andel takes over a 30-year lease on the land.

European Energy will continue to be responsible for the operation of Tryggevælde Solar Park.

The parties do not wish to disclose financial matters surrounding the transaction.

More information:

Andel

Head of Press

Morten Kidal

mkl@andel.dk

+45 21703799

European Energy

PR Manager

Ming Ou Lü

miol@europeanenergy.com

+45 3126 9376

About European Energy

European Energy is a Danish developer of solar and wind farms as well as PtX solutions. The company was founded in 2004 and has since developed and built almost four GW of renewable energy in over 26 different countries. By the end of 2022, the company is engaged in the development of renewable energy projects with a total energy capacity of over 40 GW distributed over 26 countries.

About Andel

Andel is Denmark’s leading energy and fiber network group with 2.8 million customer relationships spread across the country. The group of owners is approximately 400,000 Zealand cooperative owners, and it is approximately 1,900 colleagues who are responsible for the daily tasks. The subsidiaries each represent a different area in the energy sector – the electricity network companies Cerius and Radius, the charging operator Clever, the energy company Andel Energi, the trading company Energi Danmark and the fiber network company Fibia.