Japanese investment firm Mitsubishi HC Capital has acquired a 20% stake in Danish renewable energy developer European Energy.
European Energy says the agreement brings in Mitsubishi HC Capital as a strategic partner and significantly strengthens its capital base and growth potential.
The 20% stake is equivalent to approximately 72 million new shares in European Energy. Mitsubishi HC Capital will also purchase around 3 million shares from three existing major shareholders, making the investment firm the second-largest shareholder in the company.
The transaction is subject to regulatory approvals, but is expected to be completed in the first half of the year. The financial terms of the transaction have not been revealed.
“The capital injection more than triples our equity, offering us increased opportunities to accelerate our business,” said Knud Erik Andersen, CEO and co-founder of European Energy.
European Energy claims to have operations in 28 countries, with a development pipeline exceeding 60 GW.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
1 comment
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.