European Energy reported strong operational progress in 2025, driven by the expansion of renewable energy projects across multiple technologies and international markets. However, power curtailment during the year affected earnings from both electricity generation and project sales.

The company reported revenue of EUR 766 million in 2025, up significantly from EUR 416 million in 2024. Gross profit increased to EUR 258 million, compared with EUR 224 million the previous year. Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose to EUR 170 million, while profit before tax reached EUR 39 million, up from EUR 29 million in 2024.

Project sales generated EUR 620 million in revenue during the year, marking a notable increase from the previous year. Meanwhile, the company’s independent power producer (IPP) portfolio continued to expand, although electricity sales from power generation were limited to EUR 138 million, only slightly higher than the previous year due to curtailed production.

Knud Erik Andersen, CEO and co-founder of European Energy, said the company made significant progress across its renewable portfolio while also advancing new business segments such as Power-to-X and battery energy storage systems (BESS).

To address curtailment challenges and pressure on profit margins, European Energy accelerated the deployment of battery storage systems across its projects. The company’s BESS pipeline expanded from 2.4 GW to 7.4 GW during the year. Grid-connected storage capacity reached 54 MW with 204 MWh of storage, following an upgrade at Kvosted Energy Park, which the company describes as the largest combined solar and battery park in Northern Europe. Additional battery upgrades are planned to enhance operational flexibility and improve revenue potential across solar and wind assets.

Another major milestone in 2025 was the start of operations at the Kassø e-methanol facility in Denmark. The plant is considered the world’s first large-scale commercial facility producing e-methanol, which is manufactured using renewable electricity and biogenic carbon dioxide and is intended as a lower-carbon fuel alternative for the shipping and chemical industries.

During the year, 1,189 MW of renewable energy projects reached final investment decision and entered construction, compared with 666 MW in 2024. In addition, around 6 GW of projects were in the structuring phase by the end of 2025. The company reported approximately 1.3 GW of capacity under construction across eight countries, while total managed and owned generation capacity reached 3.8 GW across five technologies.

European Energy also connected 662 MW of renewable energy capacity to the grid across 14 projects during the year and generated 4.5 TWh of renewable electricity from assets it owns or manages. According to the company, this output is equivalent to the annual electricity consumption of about 1.2 million households and helped avoid around one million tonnes of CO₂-equivalent emissions.

Commercial activity remained strong, with the company securing more than 20 power purchase agreements (PPAs) and contracts for difference (CfDs) covering over 1.2 GW of capacity across Europe and Australia. These agreements are expected to provide long-term revenue visibility and support project financing.

Jens Due Olsen, Chair of the Board at European Energy, said the company’s progress in 2025 strengthens its position for future growth, supported by an expanded technology portfolio and a growing development pipeline.

Looking ahead, European Energy expects improved financial performance in 2026, driven by higher project sales, reduced curtailment levels and increased integration of battery storage across its renewable assets. The company forecasts EBITDA between EUR 200 million and EUR 300 million for 2026, depending on market conditions and the timing of project divestments.