Andel, a Danish energy company, and Better Energy have entered into a substantial billion-euro partnership aimed at significantly increasing Denmark's renewable energy capacity. The collaborative effort will result in the establishment of 15 new energy parks in Denmark between 2024 and 2028, collectively boasting a capacity of 2GW.
Under the terms of the partnership, each entity will hold a 50% ownership stake in the completed portfolio. Better Energy will take the lead in managing the development, construction, and technical operation of the energy parks. The ambitious initiative is set to contribute significantly to Denmark's renewable energy goals and address the urgent need to combat the climate crisis.
The initial phase of the partnership will see the construction of the first four energy parks in the Danish municipalities of Soro (107MW), Vordingborg (187MW), Guldborgsund (329MW), and Naestved (120MW). These parks, with a combined capacity of approximately 750MW, are scheduled to commence production between 2024 and 2025.
With a focus on accelerating the expansion of renewable energy in Denmark, the partnership also outlines joint ambitions for energy storage solutions and nature and biodiversity initiatives within the portfolio. The collaborative approach aims to foster broad acceptance within local communities, emphasizing the importance of nature initiatives, adaptations of project areas, fauna passages, and recreational initiatives near town areas.
Jesper Hjulmand, CEO of Andel, highlighted the urgency of addressing the climate crisis and emphasized the role of wind and solar power on land as the fastest way to expand Denmark's renewable energy capacity. Mark Augustenborg Odum, CFO of Better Energy, underscored the partnership's significance in advancing the pace of renewable energy expansion across various markets.
The proposed energy parks will be integrated into the portfolio once the necessary permits are obtained, and they enter the ready-to-build phase. This strategic partnership positions both Andel and Better Energy at the forefront of Denmark's renewable energy landscape, contributing to the nation's goals of achieving a sustainable and resilient energy future.