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Read moreFinancing the next generation of energy
3 min to read
The collaboration between Nordea and European Energy shows how long-term financial partnerships enable complex renewable energy projects, from solar parks to commercial-scale e-methanol production.
European Energy is an engineering-driven renewable energy company focused on developing large-scale projects across wind, solar and Power-to-X, with a focus on bringing new energy technologies into practical use.
One example is the Kassø facility in Denmark. As the world’s first commercial-scale e-methanol plant, Kassø began operations in 2025, combining renewable electricity from the adjacent solar park with hydrogen and e-methanol production. With annual production capacity of up to 42,000 tonnes, and offtake agreements that include A.P. Moller - Maersk, the LEGO Group and Novo Nordisk, Kassø also shows how renewable energy can be integrated into established industrial value chains.
From project development to bankable structure
Projects like Kassø need more than strong technical capabilities. They also depend on financing structures that can handle complexity: construction timelines, operational risk and liquidity management.
That’s where financial partners play an important role. Nordea has worked with European Energy for over 14 years, supporting the company as its portfolio has grown. What started as a traditional banking relationship has evolved to include credit facilities, bond financing, FX hedging and, more recently, SPV and project financing.
Kassø marks an important step in that development. Nordea acted as lead structuring bank for a green-financing bridge facility supporting the joint venture, alongside SMBC, with a partial guarantee from EIFO. The financing supports continued operations while preparing the project for long-term project financing.
A partnership built on experience
The collaboration between European Energy and Nordea has evolved in step with the projects themselves. As Jens-Peter Zink, Deputy CEO of European Energy, points out, projects such as Kassø require not only innovation and development capabilities, but also financing that’s aligned with the asset and its risk profile.
For Nordea, the relationship has been built on a close understanding of European Energy’s ability to originate, develop and construct large-scale projects. As the company has expanded from renewable generation into integrated energy solutions, the financial dialogue has evolved with it.
Kassø demonstrates how partnerships that combine industrial know-how with long-term financing remain essential to bringing the next generation of energy projects into operation.
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