Wedoany.com Report on Feb 12th, European Energy has recently finalized long-term financing arrangements for the Kvosted hybrid solar and battery park in Viborg, Denmark. The total financing amounts to €64.5 million, provided by Ringkjøbing Landbobank and the Nordic Investment Bank, with support from the EU's InvestEU program. Of this, Ringkjøbing Landbobank has committed approximately €43 million, while the Nordic Investment Bank contributed €21.5 million.

The Kvosted hybrid project integrates approximately 100 MW of operational solar capacity with a 50 MW / 200 MWh battery energy storage system, designed for flexible dispatch, system services, and diversified revenue streams. The solar portion has been operational since 2022, while the integrated assets were commissioned in December 2025 and officially inaugurated in February 2026. The lenders' involvement demonstrates confidence in the project's operational performance, hybrid structure, and regulatory framework, while also providing a clear plan for long-term debt repayment.

Jens-Peter Zink, Deputy CEO of European Energy, stated: "The financing of Kvosted supports the asset's operation as an integrated solar and storage facility and provides a solid foundation for long-term value creation. We value the strong collaboration with Ringkjøbing Landbobank and the Nordic Investment Bank that made this project a reality." Jørn Nielsen, Managing Director of Ringkjøbing Landbobank, added: "Ringkjøbing Landbobank has been financing renewable energy projects for over 30 years, and we are pleased to contribute to financing the new BESS facility at the Kvosted Solar Park. We view BESS technology as a crucial tool for managing the imbalance between green energy production and electricity consumption—and thus a significant step towards Denmark's climate goals. We have a good collaboration with European Energy and NIB, and the Kvosted project is the latest result of this partnership. We are proud to contribute our expertise to renewable energy."

André Küüsvek, President and CEO of the Nordic Investment Bank, noted: "This project advances a cleaner, smarter energy system by pairing battery storage with solar power, making solar energy more reliable and enhancing energy security in the Nordic-Baltic region." The financing of the Kvosted hybrid solar and battery storage project also reflects European Energy's broader hybrid strategy, with the company having a battery development pipeline exceeding 12 GW across multiple markets.