European Energy has completed long-term financing for the Kvosted hybrid solar and battery park in Viborg Municipality, Denmark.
The financing comprises a €64.5m senior debt package provided by Ringkjøbing Landbobank and the Nordic Investment Bank with support from the EU’s InvestEU programme.
Ringkjøbing Landbobank has committed approximately €43m, while the Nordic Investment Bank has provided €21.5m, according to the company.
Kvosted (pictured) combines around 100MW of operational solar capacity with a 50MW/200MWh battery energy storage system to enable flexible dispatch, system services and diversified revenue streams.
The solar park has been operational since 2022, while the integrated asset was commissioned in December 2025 and inaugurated in February 2026.
The lenders’ commitment reflects confidence in the project’s operational performance, hybrid structure and regulatory framework, and the financing provides visibility into debt service over the long term.
“The financing for Kvosted supports the operation of the asset as an integrated solar and storage facility and provides a robust foundation for long-term value creation. We value our strong cooperation with Ringkjøbing Landbobank and the Nordic Investment Bank in making this project a reality,” said Jens-Peter Zink, deputy CEO of European Energy.
“Ringkjøbing Landbobank has financed renewable energy projects for more than 30 years, and we are pleased to contribute to the financing of the new BESS facility at Solar Park Kvosted,” stated Jørn Nielsen, general manager in Ringkjøbing Landbobank.
“We see BESS technology as a crucial tool for managing imbalances between the production of green energy and electricity consumption – and thus as an important step towards achieving Denmark’s climate targets. We have a good collaboration with both European Energy and NIB, and the project in Kvosted is the latest addition to that partnership. We are proud to contribute our strong expertise in renewable energy.”
“This project advances a cleaner, smarter energy system by pairing battery storage with solar power, making solar energy more reliable and strengthening energy security in the Nordic–Baltic region,” said André Küüsvek, NIB president and CEO.
The project also reflects European Energy’s wider hybridisation strategy, with the company holding a battery development pipeline exceeding 12GW across several markets.