European Energy Gets Financing for 68-MW UK Solar Project
European Energy has secured £58.1 million (USD 78.5 million/EUR 68 million) in construction financing from Danske Bank for its Indian Queens hybrid renewable energy project in Cornwall, UK.
The project combines a 68-MW solar park with a 47.5-MW/95-MWh battery energy storage system (BESS). Construction is already underway, with commercial operations expected to begin in 2027.
The solar project is backed by a corporate power purchase agreement (PPA), while the battery system has a Capacity Market Contract (CMC).
The financing was provided by Danske Bank. Jakob Horngaard of the bank said the deal supports the lender’s renewable energy activities and Nordic clients expanding outside Scandinavia.
European Energy Deputy CEO Jens Peter Zink described hybrid solar-and-storage projects as an increasingly important part of the renewable energy market.
“By integrating battery storage with solar generation, we are creating more resilient and flexible energy assets while strengthening their long-term investment profile,” Zink said.
