Better Energy and Andel in joint billion-euro investment in new energy parks

Andel and Better Energy have entered a joint partnership with the aim to construct 15 energy parks in Denmark between 2024 and 2028. Each partner will own 50% of the completed portfolio, with Better Energy managing the parks' development, construction and technical operation. The two companies have also outlined joint ambitions for energy storage and nature and biodiversity initiatives within the portfolio.

First four energy parks are ready-to-build

The first four energy parks are expected to be built in the Danish municipalities of Sorø, Vordingborg, Guldborgsund and Næstved. All four parks are expected to start production this year or next year. Collectively, the parks will have a capacity of around 750 MWp, equivalent to the annual electricity consumption of about 490,000 Danes. If all 15 parks are constructed, the total capacity is expected to be around 2 GWp, equivalent to the annual electricity consumption of approximately 1.3 million Danes.

The impact of the partnership is far-reaching, as noted by Rasmus Lildholdt Kjær, CEO of Better Energy:

"Our partnership with Andel will directly impact the green transition in Denmark. We can all be proud that Andel, one of Denmark's largest companies in terms of revenue, will soon be able to call itself one of Denmark's largest co-owners of green energy production on land. We are in a hurry, and the speed of the green transition is crucial for the world we will live in 10, 20, 30 years from now. This agreement is a significant step in the right direction."

Jesper Hjulmand, CEO of Andel, describes the partnership as a decisive leap forward for the energy conglomerate in terms of renewable energy production:

"We are in the midst of a very serious climate crisis that requires our action urgently. Wind and solar power on land is the fastest way to expand our renewable energy in Denmark. Consequently, it is only natural that we increase our commitment to solar power. This is a very ambitious agreement that will increase the total production of renewable energy in Denmark and which will also have a significant effect in relation to Andel's goal of our production of renewable energy reaching 10 TWh in 2035".

For Jesper Hjulmand, Better Energy is the right partner:

"It is important for Andel to combat climate change and ensure renewable energy for our cooperative owners and customers. We are now doing exactly this with Better Energy. Together we have a keen eye for community dialogue and engagement to create local value, as well as an integrated focus on considering climate and nature in the development of energy parks."

Mark Augustenborg Ødum, CFO of Better Energy, explains Better Energy's partnership model, which essentially involves inviting co-owners who share a vision to accelerate the green transition:

"As a partner, you enter a portfolio of energy parks. Through this partnership, Andel gains direct ownership of green energy production in Denmark, and Better Energy can continue to increase the pace of expanding renewable energy across our markets in Denmark, Poland, Sweden, and Finland."

Additional Facts about the partnership

• The proposed energy parks will enter the portfolio once permits are obtained and they enter the ready-to-build phase.
• For all projects it has been a priority throughout the planning process and local dialogues, to achieve as broad acceptance as possible among the population and authorities in the local communities – e.g. through nature initiatives, adaptations of project areas, fauna passages, recreational initiatives near town areas, and path systems.
• The joint ownership of the energy parks does not include the joint sale of energy. Each party will sell its share of the power, and marketing and customer contact will also be handled separately.

The parks ready for construction are:

In Sorø municipality, a park is being built near Vedde, with a capacity of 107 MWp and an expected annual production of approximately 108 GWh, equivalent to the average electricity consumption of 68,000 Danes in a year.

In Vordingborg municipality, a park is being built near Køng Mose, with a capacity of 187 MWp and an expected annual production of approximately 198 GWh, equivalent to the average electricity consumption of 124,000 Danes in a year.

In Guldborgsund municipality, a park is being built near Radsted and Grænge, with a capacity of 329 MWp and an expected annual production of approximately 349 GWh, equivalent to the average electricity consumption of 218,000 Danes in a year.

In Næstved municipality, a park is being built near Saltø, with a capacity of 120 MWp with the expected annual production still to be calculated.

About our partner

Andel is Denmark's leading energy and fibre-optic group. We are also a cooperative society and a group with subsidiaries. But size is only important when it comes to what we can achieve when we are strong, together.

Andel goes to the market in the group’s own name and through its subsidiaries operating in different segments within the energy sector – including Cerius and Radius Elnet, Clever, Energi Danmark, Fibia and Andel Energi. Andel is owned by  cooperative members on Zealand and has 2.8 million customer relationships across Denmark. Andel employs approximately 2000 colleagues and has its head office in Svinninge and primary locations in Ballerup, Haslev and Virum.

For media inquiries contact Morten Kidal | mkl@andel.dk