European Energy reported a sharp increase in revenue and earnings for 2025, supported by higher project sales and expansion across renewables, storage and Power-to-X, the company said.
Revenue rose to €766 million from €416 million in 2024, while EBITDA reached €170 million. Project sales totalled €620 million, while curtailed production limited power sales to €138 million, the company said.
“European Energy has delivered operational significant progress and activity across our core renewable energy portfolio as well as achieving significant progress within our new business areas in Power-to-X and Battery Energy Storage Systems,” said chief executive and co-founder Knud Erik Andersen.
“We continue to scale as a company, and our progress reflects the maturity of our pipeline and of our operating model. Whilst the financial results reflect a challenging power market with curtailments, our operational achievements lay the foundation for long-term growth,” he added.
During the year, the company accelerated the rollout of battery energy storage systems (BESS) to mitigate curtailment and pricing pressure. Its BESS development pipeline expanded to 7.4GW from 2.4GW.
Grid-connected storage capacity reached 54MW and 204MWh following an upgrade at the Kvosted Energy Park, with additional upgrades planned to enhance flexibility and revenue performance across solar and wind assets.
A key milestone was the start of operations at the Kassø e-methanol facility, which the company described as the world’s first large-scale commercial e-methanol facility.
In 2025, projects totalling 1,189MW reached final investment decision and moved into construction, while 6GW entered structuring. By year-end, European Energy had approximately 1.3GW under construction across eight countries and a total managed capacity of 3.8GW across five technologies.
The company grid-connected 662MW across 14 projects and generated 4.5TWh of renewable electricity, avoiding an estimated 1 million tonnes of CO₂-equivalent emissions. It also secured more than 20 power purchase agreements and contracts for difference covering over 1.2GW across Europe and Australia.
“The board views this year’s progress as an important step in positioning European Energy for the next phase of growth. As market conditions improve, the foundation will enable us to seize opportunities with speed and scale,” said board chair Jens Due Olsen.
European Energy expects improved financial performance in 2026 and forecasts EBITDA in the range of €200 million to €300 million, supported by higher project sales, reduced curtailment and increased integration of battery storage.
