Industriens Pension and Better Energy ready with new multi-billion dollar investment in solar parks
3 February 2023
Industriens Pension and Better Energy are expanding their partnership and planning new solar cell investments in Denmark, Sweden and Poland for a total investment amount of DKK 6 billion. With the
expansion, the expectation is that around 15 new solar parks will be established before the end of 2024, which will supply green power on a large scale to consumers and companies in Northern Europe.
“With the new joint investment, the expansion of renewable energy in Denmark, Poland and Sweden will be further accelerated. The new parks will be another step on the way to ensuring a more independent energy supply, and they have a very good climate effect per krone invested. At the same time, we expect that the solar parks will provide reasonable, long-term returns, so it is an investment that we are excited about for several reasons,” says Peter Lindegaard, investment director at Industriens Pension.
Total construction cost of DKK 11 billion. DKK
In advance of this, Industriens Pension and Better Energy have already invested in 21 solar parks for a construction sum of just under DKK 5 billion. This means that the total construction cost for solar parks that the parties have invested in comes to a total of DKK 11 billion. DKK, when the additional expected 15 parks have been built. Part of this comes as equity from the parties, while part is long-term investment financing.
The existing partnership between Industriens Pension and Better Energy is already today the largest independent producer of solar energy in Northern Europe, just as the partnership is behind the largest solar cell investments in Denmark.
“We are in the middle of three crises in Europe: an energy crisis, a biodiversity crisis and a climate crisis. For all three, time is the decisive factor in what kind of world we leave for ourselves and for those who come after us. All real change starts with action, and our partnership with Industriens Pension is a good example of how direct investments can make a noticeable difference in the transition we are facing,” says Mark Augustenborg Ødum, investment director at Better Energy.
Source: Industriens Pension
