Do you ever wonder what a world based on a 100% renewable energy looks like? In European Energy, we do. And the good news is that this world is getting closer. In European Energy, we have great optimism when it comes to changing our energy to 100% renewable.
2020 is the year that demonstrated the strenght in our business model. We are expanding – not only in key numbers but also in possibilities. That makes our business less vulnerable to sudden changes in our industry or even in case of an unexpected crisis, like a global pandemic.
Historical high level in 2020 and result better than outlook for 2020. EBITDA has almost doubled since 2018.
profit before tax
Growth in EBITDA continues with same pace as the last year. The same growth is expected in profit before tax.
Electricity sale represents now 22% of revenue. Today, European Energy is a developer and an independent power producer.
in hybrid bond
With the inflow from a hybrid bond, equity is historically high, which will enable European Energy to increase the amount of constructed energy farms.
We believe that we are facing a boom in the development of green energy. Politicians present huge green ambitions across continents, green investments have never been higher, and we have the skills and will to meet ambitions and demand.
Actually, we plan to be a global major.
In 2020, we have made our biggest investment in the development of new projects to date. Therefore, we enter a new year with more than 600 MW under construction and expect to finish the construction of more than 750 MW in 2021
in power sale profit up since 2018
Gross profit has increased for all segments in the business. Gross Margin up from 24% in 2019 to 36% in 2020.
ready to build
In 2020, the number of MW under construction increased from 218 in 2019 to 613 in 2020. Also, the number of MW ready to be built increased from 606 in 2019 to 814 in 2020.
In 2020, assets under management increased to 1,336 MW due to new service contracts for solar and wind assets.
The decrease in revenue in power plant sale in 2020 must be seen in the light of the increase in sale of power.
green power to European households
We added 251 MW of green power to the 1,661 MW that has been connected by the Company since 2004.
2020 emphasized that we truly are a European company with the opening of 6 new offices. And with the local approval of Northern Europe’s biggest solar plant in Denmark we mark that large-scale plant is the future.
solar farm opened in Troia, Italy
solar farm in Kassø, Denmark achieved permit
persons employed by the end of the year
Total net increase in new head counts was 55.
electricity sold via PPA’s
new offices opened in 2020
European Energy opened offices in Hamburg, Germany, Glasgow, United Kingdom, Milan, Italy, Barcelona, Spain, Sao Paolo, Brazil and Vilnius, Lithuania.
ownership in the Danish e-methanol company, REintegrate
The groups first in the storage space where Power-to-X, batteries, heat pumps and other technology will increase the demand for green energy.
It all began in 2004 when CEO Knud Erik Andersen and Head of Construction Mikael D. Pedersen joined forces in the first wind project. Shortly after Executive Vice President Jens Peter Zink joined the company. In 2008 European Energy developed the first solar project. In 2021 European Energy will reach a new milestone crossing the line of 2 GW renewable energy capacity developed or purchased since 2004.
European Energy has a designated Sustainability Engagement Team which includes employees from all corners of the company. Read the first report from the team.