Press release
Operational and strategic progress for European Energy in first quarter of 2026
May 29, 2026
European Energy made significant progress in the first quarter of 2026, advancing hybrid energy projects across core markets.
– European Energy continued the rollout of BESS and hybrid energy projects across core markets in Q1 2026.
– Financial results were lower year-on-year due to the timing of project sales and geopolitical uncertainty, with revenue of EUR 80.3m, EBITDA of EUR 5.3m and profit before tax of EUR -21.5m.
– European Energy advanced its Power-to-X activities, where the Kassø e-methanol facility has proven full operation and is supplying contracted customers.
Copenhagen, Denmark, 29th of May, 2026 – European Energy advanced hybrid energy projects across multiple core markets in the first quarter of 2026, while continuing the commercial ramp-up of its Power-to-X activities.
Although financial results were lower than in the same period last year mainly due to the timing of project sales, the company made substantial operational and strategic progress across its renewable energy and e-methanol portfolio.
Revenue for the quarter was EUR 80.3m, while EBITDA amounted to EUR 5.3 million. Profit before tax was EUR -21.5m. The lower earnings primarily reflected the absence of major project sales completed during the quarter.
“Earnings in the quarter reflected the timing of project sales, as well as seasonal fluctuations and continued geopolitical uncertainty,” says Jens-Peter Zink, Deputy CEO of European Energy.
“At the same time, growing focus on energy independence and electrification continues to support long-term demand for renewable energy and hybrid solutions. We are seeing increasing interest in assets that combine generation, storage and grid integration.”
European Energy continued the rollout of Battery Energy Storage Systems (BESS) across its portfolio during the quarter, with projects under construction or development in Denmark, Lithuania, the United Kingdom, Australia and Poland. A total of ~400 MW of BESS projects, equivalent to 1.100 MWh, have passed FID by the end of Q1.
In February, the company inaugurated the Kvosted facility in Denmark, Northern Europe’s largest combined solar-and-battery park with a capacity of 50MW/200MWh, marking another step in European Energy’s transition towards integrated hybrid energy solutions.
European Energy expects to install more than 1 GWh of battery capacity across European markets towards 2027.
Over recent years, European Energy has deliberately evolved from a pure solar-and-wind developer into an integrated hybrid energy company, combining solar, wind and battery technologies to maximise grid utilisation and improve system flexibility.
During the quarter, European Energy also made further progress on major hybrid projects internationally, including securing local agreements related to the 1.5 GW Upper Calliope project in Australia, which combines large-scale solar and battery storage.
Within Power-to-X, the Kassø e-methanol facility has proven full operation during the quarter and is now supplying e-methanol to contracted customers. Kassø remains the only operational e-methanol facility in Europe currently producing methanol fully compliant with the EU’s RFNBO regulations.
“Renewable energy continues to play an increasingly important role in strengthening energy independence and stabilising energy systems,” says Jens-Peter Zink.
European Energy expects financial performance to improve during the second half of 2026 as deferred project sales are completed and operational assets continue to contribute stable earnings. European Energy maintains its 2026 EBITDA guidance of EUR 200–300 million.
Contact
Ming Ou Lü
PR Manager
+45 3126 9376
miol@europeanenergy.com