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Capital Increase: Mitsubishi HC Capital Joins The Project Developer European Energy as a Strong Partner

Søborg, Denmark - European Energy A/S, the developer of wind, solar and power-to-X projects, and the Japanese company Mitsubishi HC Capital Inc. have completed a 700 million euros equity transaction.

The agreement corresponding to the acquisition of a 20 percent stake in European Energy A/S by Mitsubishi HC Capital Inc. has now been approved and the transaction has been successfully completed.

In connection with the completion of the transaction, European Energy carried out a capital increase of around 72.4 million new shares with a nominal value of DKK 1 each. In addition to the capital increase, Mitsubishi HC Capital also acquired around 2.8 million shares from the three major shareholders of European Energy. European Energy will thus achieve total proceeds of around 700 million euros, which, according to the company, corresponds to a tripling of equity capital. European Energy wants to use the additional equity capital for further company growth and new projects.

To strengthen future collaboration, Keiro Tamate, deputy managing director of Mitsubishi HC Capital, has been elected as a new member of European Energy's board of directors.

“Mitsubishi HC Capital’s international presence and strategic mindset will be invaluable on the growth journey that European Energy is currently on,” said European Energy CEO Jens Due Olsen about the transaction. “We are looking forward to starting a new chapter in the story of European Energy. With our collaboration with Mitsubishi HC Capital, we will be able to further accelerate our growth and strengthen our impact in the fight against climate change,” adds Knud Erik Andersen, CEO and co-founder of European Energy.

“There is significant growth potential in European Energy, and we are excited to contribute our expertise and knowledge to the company in its new chapter,” commented Takuji Naruse, Managing Executive Officer and Head of the Environment & Energy Business Division at Mitsubishi HC Capital signed the agreement with European Energy.

European Energy A/S was founded in Denmark in 2004 and is one of the leading developers in the field of renewable energy. Headquartered in Copenhagen, the company is present in 25 countries and has a development pipeline of more than 60,000 MW (60 GW) worldwide. European Energy has been active in Germany for 20 years and has branches in Hamburg, Potsdam, Teuchern, Leipzig and Wiesbaden with around 75 employees who plan, build and operate wind, solar and power-to-X projects.

Source: IWR Online, 18 Apr 2024