In Denmark, European Energy A/S and Mitsui & Co., Ltd. have secured a green-financing bridge facility for their joint venture developing the solar park and e-methanol plant in Kassø, formally known as Solar Park Kassø (SPK). The agreement supports the continued operation on one of Europe’s most advanced Power-to-X projects and supports continued development of e-fuels for sectors where reducing emissions is particularly challenging.
The Kassø project combines large-scale renewable electricity generation with e-methanol production, serving as an example of how Power-to-X technologies can address decarbonisation in industries where direct electrification is not technically or economically feasible. Construction of the facility began in 2023, with the first batch of e-methanol delivered during the inauguration ceremony on 13 May 2025 to the container vessel Laura Mærsk, operated by key offtaker A.P. Moller – Maersk. Additional offtake agreements are in place with the LEGO Group and Novo Nordisk, among others.
The project has been designed to produce up to 42,000 tonnes of e-methanol annually, depending on operating conditions. The plant draws renewable energy from the adjacent solar park, ensuring traceable and regionally sourced electricity directly into the production process.
Nordea and SMBC acted as Bookrunners and Mandated Lead Arrangers with Nordea acting as Documentation Agent and Security & Facility Agent on the bridge financing package, which benefits from a partial guarantee provided by EIFO, continuing their engagement with the project.
Tags: Denmark, European Energy, Mitsui & Co.
Category: Fuels
