Better Energy and Industriens Pension have agreed to jointly invest €800m in the construction of 15 solar farms in Europe,
The projects are in Denmark, Poland and Sweden and are planned to be operational by the end of 2024.
They will have a combined capacity of over 1GW.
The two companies already jointly own 21 solar parks in a separate partnership and have invested around €670m in these.
In total, the two partnerships between Industriens Pension and Better Energy are expected to own 36 parks with an annual capacity of approximately 2GW.
Industriens Pension and Better Energy will each own 50% of the completed solar power parks, while Better Energy will be responsible for development, construction, and operation as well as the sale of energy from the parks.
“Time is the crucial factor in determining the world we leave behind for those who come after us. Real change starts with action, and our new strong partnership with Industriens Pension is a good example of how direct investments can make a tangible difference in the transition we are facing.
“The partnership boosts our momentum in all our markets; not least Poland, where the need for cheap, green energy is almost insatiable,” said Mark Augustenborg Ødum, CIO at Better Energy.
“The new joint investment will accelerate the deployment of renewable energy in Denmark, Sweden, and Poland. The new parks will be another step towards ensuring a more independent energy supply, and they have a very good climate effect per EUR invested. At the same time, we expect the solar parks to provide satisfactory, long-term returns, so we are excited about the investment for several reasons,” says Peter Lindegaard, CIO of Industriens Pension.