European Energy Offloads US Solar Park

Wedoany.com Report-Feb 22, European Energy has completed the sale of its largest solar park to date.

The sale in the United States marks the company’s second major divestment in the country since entering the market in 2021.

It brings the total divested capacity in the country to 800MW.

The company’s first US project, Project Yellow Viking in Texas, was sold in 2023.

European Energy’s latest “record-breaking” solar park, which has not been named, has been sold to an undisclosed buyer.

When fully operational, it will be able to produce around 1389GWh of electricity annually.

This is the equivalent to the annual consumption of 128,000 American households.

Chief executive of EE North America Lorena Ciciriello said: “Our goal in the US is to create a broad portfolio of renewable energy solutions, and this sale is an important step in realising our strategy.”

EE’s executive vice-president and head of project development Thorvald Spanggaard added: “The sale of this solar project is a testament to European Energy’s strong development capabilities in the world.

“We are committed to our ambitions to develop and expand our renewable energy business in the US.

“At the same time, it is something that creates local growth and new jobs in the country.”

European Energy started its development activities in the US in 2021 and has an office located near Austin, Texas.