Better Energy and Jyske Bank are financing renewable energy parks for a three-digit DKK million amount. With the loan financing, Better Energy has established three solar parks in Denmark with a total capacity of around 200 MWp.
Part of a partnership between Better Energy and Industriens Pension, the three solar parks are already grid-connected. The accumulated expected production from the solar parks amounts to green energy equivalent to the average yearly electricity consumption of 131,000 Danes.
“The agreement aligns with Jyske Bank's green lending strategy, where we anticipate a substantial growth in financing renewable energy in the coming years. The Renewable Energy department is gearing up for this expected growth and aims to develop financing for the green transition. And in this endeavour, Better Energy is a natural partner,” says Claus Simonsen, Director, Renewable Energy at Jyske Bank.
Investing in green projects through these types of loan investments puts capital directly to work in favour of the green energy transition, says Flemming Meineche, Director of Debt Partnerships & Structuring at Better Energy:
“For some time, we have had a good partnership with Jyske Bank, which really accelerated last year with the loan financing of three major solar parks. Throughout the process, Jyske Bank has demonstrated an understanding of our needs as a renewable energy company, and they have backed up the words in their green lending strategy with tangible action.”
Financial trust in energy projects is crucial
“Better Energy has already proven its ability to develop, build, and connect some of Denmark and Northen Europe’s largest solar parks. The agreement will benefit both parties and, most importantly, contribute to the green transition,” concludes Claus Simonsen from Jyske Bank.
It is expected that the three solar parks will be able to deliver an annual production of approximately 210,000 MWh.
Better Energy is pleased with the strengthened collaboration and Flemming Meineche adds,
"The financial sector plays a crucial role in the green transition. Building the production capacity that Europe needs will require substantial capital. To succeed, developers must present attractive projects, and in turn, financial institutions must offer good financing options. Jyske Bank has made a real difference through their lending in 2023, and we look forward to the collaboration in the coming years.”
