European Energy is to sell Mitsui a minority stake in its solar and e-methanol project in Aabenraa, Denmark.
Mitsui will acquire a 49% in the 304MW solar plant in Kasso and the connected e-methanol facility European Energy is developing.
The e-methanol plant will, when operational in 2024, produce up to 42,000 tons of the fuel annually.
“Green hydrogen, e-fuels, and low carbon chemicals are key to decarbonizing hard-to-abate sectors such as shipping, plastic production and aviation,” said European Energy chief executive Knud Erik Andersen.
“By partnering with a significant global player like Mitsui, with an already substantial footprint in the methanol sector, we benefit from their extensive experience.
“Signing this deal is a testament that our strategy works, and we look forward to make large-scale production of e-methanol a reality.”
Mitsui president and chief executive Kenichi Hori said: “Mitsui will leverage its expertise in chemicals, renewable energy, shipping, and other industries to enhance the competitiveness of this e-methanol facility.
“Mitsui will deepen its strategic partnership with European Energy through Kasso and target further collaboration in future business between two companies.”