Long-term financing completed for Kvosted hybrid solar and battery asset

EUR 64.5m senior financing supports long-term operation and value stability of a mature hybrid solar and storage asset.

– EUR 64.5m long-term senior financing completed for the Kvosted hybrid solar and battery park, provided by Ringkjøbing Landbobank and the Nordic Investment Bank with InvestEU support.

– Operational hybrid asset combining solar and storage, with approximately 100 MW of solar capacity and a 50 MW / 200 MWh battery system supporting flexible dispatch, system services and diversified revenues.

– Stable capital structure for long-term ownership, with financing supporting the positioning of Kvosted as a mature asset.

Copenhagen, Denmark, 11th of February, 2026 – European Energy has completed long-term financing for the Kvosted hybrid solar and battery park in Viborg Municipality, Denmark. The financing supports the continued operation of one of Europe’s largest operational solar-plus-storage facilities and establishes a stable capital structure for the asset’s long-term ownership and performance.

The financing comprises a EUR 64.5m senior debt structure provided by Ringkjøbing Landbobank and the Nordic Investment Bank (NIB), with support from the EU’s InvestEU programme. Ringkjøbing Landbobank has committed approximately EUR 43 million, while NIB has provided a EUR 21.5 million.

Kvosted combines an existing utility-scale solar park with a 50 MW/200 MWh battery energy storage system (BESS), creating a fully integrated hybrid asset. The configuration enables electricity generated during periods of high solar output to be stored and dispatched when market demand and prices are higher, while also allowing participation in flexibility and system services markets. This reduces exposure to curtailment and price volatility and supports more stable, diversified revenue streams.

The solar park has been operational since 2022 with an installed capacity of approximately 100 MW. Asset commissioning occurred in December 2025, and the upgraded park was officially inaugurated in February 2026.

The long-term financing reflects lender confidence in the asset’s operational performance, hybrid structure and regulatory framework. It provides visibility into debt service and supports positioning Kvosted as a mature, operational hybrid asset suitable for long-term ownership or portfolio transactions.

“The financing for Kvosted supports the operation of the asset as an integrated solar and storage facility and provides a robust foundation for long-term value creation. We value our strong cooperation with Ringkjøbing Landbobank and the Nordic Investment Bank in making this project a reality,” says Jens-Peter Zink, Deputy CEO of European Energy.

“Ringkjøbing Landbobank has financed renewable energy projects for more than 30 years, and we are pleased to contribute to the financing of the new BESS facility at Solar Park Kvosted. We see BESS technology as a crucial tool for managing imbalances between the production of green energy and electricity consumption – and thus as an important step towards achieving Denmark’s climate targets. We have a good collaboration with both European Energy and NIB, and the project in Kvosted is the latest addition to that partnership. We are proud to contribute our strong expertise in renewable energy,” says Jørn Nielsen, General Manager in Ringkjøbing Landbobank.

“This project advances a cleaner, smarter energy system by pairing battery storage with solar power, making solar energy more reliable and strengthening energy security in the Nordic–Baltic region,” says André Küüsvek, NIB President and CEO.

The Kvosted project also reflects European Energy’s broader approach to hybridisation through battery storage. The company has a battery development pipeline exceeding 12 GW across multiple markets, supporting a range of ownership, partnership and acquisition structures.

Contact

Ming Ou Lü

PR Manager

+45 3126 9376

miol@europeanenergy.com