European Energy achieves growth for the first nine months of 2025

Financial performance in the first nine months of 2025 shows year-to-year growth and increased activity across the company, despite mixed market conditions.

– Financial performance improved year on year for the first nine months of 2025, driven mainly by increased divestments and higher construction activity.

– EBITDA reached EUR 114.5m, up EUR 102.5m from the same period in 2024, with progress in battery storage and a 33% rise in construction across the portfolio.

– Battery storage advanced across the portfolio, with 172 MW under construction and more than 6 GW under development.

Copenhagen, Denmark, 28th of November, 2025 – European Energy recorded improved financial performance in the first nine months of 2025 compared to the same period in 2024. The development was supported primarily by increased divestments of renewable energy assets. The company has also seen an increase in construction activity and further progress in battery storage.

EBITDA amounted to EUR 114.5m, an increase of EUR 102.5m year-on-year. The improvement was driven primarily by divestments of solar, wind and hybrid energy parks in Poland, Denmark, Germany and the United States, as well as power sales. Operating earnings from energy-producing assets increased compared to last year but remained under pressure as realised power prices were lower than anticipated. Profit before tax was EUR 9.6m, compared to a loss of EUR 73.1m in the first nine months of 2024.

“European Energy has improved its year-to-year financials, despite mixed market conditions. We have also seen steady progress in the first nine months of the year on both construction activity and the roll-out of new technological innovations of the company,” says Jens-Peter Zink, Deputy CEO of European Energy.

Market conditions improved during the third quarter, but a significant number of negative Day Ahead price hours, driven by growing renewable generation and a supply–demand imbalance, led to curtailment of generating assets and continued pressure on operating earnings from energy production.

“We have taken steps to adapt to the current market conditions by focusing on new technologies in our company. This year, we have strengthened our deployment of battery storage across our portfolio. The strategy has now started to materialise, and we expect this to support performance in the coming years,” says Jens-Peter Zink.

172 MW of battery storage capacity was under construction by the end of the first nine months in 2025. European Energy has more than 6 GW of battery storage solutions under development. The company expects that the deployment of BESS will improve revenue and earnings from operational energy plants by enabling production curtailment management and optimising energy sales value, thereby enhancing the assets’ attractiveness to investors.

Construction activity across the portfolio grew by 33% year over year, with more than 1.5 GW under construction in nine countries at the end of the first nine months.

The company issued a EUR 100 million senior bond with a three-year maturity in October. The issuance provided additional flexibility for project development and construction activities and was fully subscribed within one day. The final pricing reflected solid market interest.

In the first nine months of 2025, the company concluded the sale of 1.3 GW of projects. Further project sales are expected to be completed towards the end of the year. Some of these transactions depend on approvals — for example FDI outside the control of European Energy – and may therefore slip into early 2026.

As a result, we have adjusted our EBITDA guidance to EUR 200m with a margin of +/-15%.

The report can be read here.

About European Energy

European Energy is a Danish company that develops, constructs, finances, and operates renewable energy projects like wind and solar farms, as well as Power-to-X solutions and battery storage. Founded in 2004, the company has expanded to have development activities in 25 countries and a pipeline of approximately 65 GW of renewable energy projects as of 2025. It is headquartered in Copenhagen but operates globally, with activities centered in Europe but also in North and South America, and Australia. 

Contact

Ming Ou Lü

PR Manager

miol@europeanenergy.com

+45 3126 9376