European development business
We have a 12 GW pipeline of large-scale solar, battery and data centre projects in the UK, Germany, and France, which are some of Europe’s most attractive renewable energy and data centre markets. We are also developing energy hubs, which provides an opportunity to invest in a portfolio of large-scale and co-located assets across complementary technologies.
The projects are being developed by experienced teams with a proven track-record in project origination and development in these markets. Project realisation depends on several factors, such as permitting, fulfilment of projects milestones and commercial viability. The main strategy will be to divest before significant construction costs are incurred, and the Company is targeting multiple sales per year from this business.
Germany
- Entered into agreements to sell 260 MW of Agri-PV projects since 2025 for up to 15 MEUR1
- De-risked greenfield portfolio; 1.8 GW of battery projects and 210 MW of Agri-PV projects have municipal approval in place, and over 1 GW of additional solar projects with land reserved and available grid are advancing towards RtP
- Developing energy hubs that combine complementary technologies with co-located solar, battery storage and data centre assets
1Subject to the achievement of predefined milestones
United Kingdom
- 6 large-scale projects of 2.9 GW at RtP with land and grid secured (split between 1.8 GW solar projects and 1.1 GW data centres)
- Sales processes initiated for the 1.8 GW solar portfolio and 300 MW data centre project
- Final connection details expected before the beginning of 2027
- Multi-GW pipeline of additional solar and battery projects with land secured, positioned for future grid application windows
France
- Conducting environmental studies for its first projects
- Advancing initial projects towards the ready-to-permit milestone