European Energy reported increased activity in 2025, with higher investment levels across multiple renewable technologies and markets. Curtailment affected earnings from project sales and power generation during the year. During 2025, 1,189 MW of renewable projects reached final investment decision and entered construction, compared with 666 MW in 2024. At the end of the year, 6 GW of projects were in the structuring phase. European Energy had around 1.3 GW under construction across eight countries and, including managed assets, a total installed capacity of 3.8 GW across five technologies.
The company grid-connected 662 MW across 14 projects and generated 4.5 TWh of renewable electricity from owned and managed assets. More than 20 power purchase agreements and contracts for difference were secured during the year, covering over 1.2 GW across Europe and Australia.
Revenue rose to € 766m, compared with € 416m in 2024. Gross profit increased to € 258m from € 224m, while earnings before interest, tax, depreciation and amortisation reached € 170m, up from € 154m. Profit before tax was € 39m, compared with € 29m the previous year.
Project sales totalled € 620m in 2025, above the 2024 level. Power sales amounted to € 138m, reflecting curtailed production and only a marginal increase year on year.
To address curtailment and margin pressure, European Energy accelerated the deployment of battery energy storage systems. The battery pipeline expanded from 2.4 GW to 7.4 GW. Grid-connected battery capacity reached 54 MW, with a storage capacity of 204 MWh following an upgrade at Kvosted Energy Park.
For 2026, European Energy expects improved financial performance, supported by higher project sales, reduced curtailment and further integration of battery energy storage systems. The earnings before interest, tax, depreciation and amortisation outlook is € 200–300m, subject to market conditions and the timing of project divestments.
