Danish renewables developer European Energy (EE) has completed the sale of its largest solar farm in the US to date.
Copenhagen-based European Energy said it sold the solar farm to an undisclosed buyer so that it can develop, deliver, and recycle capital into new US renewable energy projects. EE develops solar, onshore and offshore wind, power-to-X, and battery storage projects. It arrived in the US in 2021 and has an office in Austin.
Lorena Ciciriello, chief executive of EE North America, said, “Our goal in the US is to create a broad portfolio of renewable energy solutions, and this sale is an important step in realizing our strategy.”
It’s the Danish developer’s “second major divestment” in the US since European Energy entered the solar market in 2021, bringing the total capacity divested to 800 MW. The company sold its first US solar farm, Yellow Viking in Texas, in 2023.
When fully operational, the still unnamed solar farm – EE doesn’t say where in the US it’s located, either – is expected to produce around 1,389 GWh of electricity annually, equivalent to the annual consumption of 128,000 US households.
“We remain committed to developing renewable energy projects in the USA that drive local growth and create jobs,” said Thorvald Spanggaard, EVP and head of project development at European Energy.
Electrek’s Take
This announcement, which is light on details, piqued my interest. It’s a large solar farm sold by a large European-HQ’ed global company that says it’s committed to developing more renewables in the US, which is currently being run by a government that doesn’t consider solar or wind to be defined as energy. What’s the incentive for EE to do that? It sure isn’t federal tax incentives.
What’s coming down the pipeline for renewable projects in the US? Everyone is speculating, but no one knows – not even Republicans, despite the risks of renewable project collapses being highest in their own states. I will make an educated guess and say that EE will sit on its sale proceeds and wait for clarity, which they may never get. That’s because the Trump administration memos and executive orders are deliberately designed to be vague. Chaos is a form of control.
Read more: Republican districts lose billions as clean energy cancellations surge
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