Revenue for the year was €766m, a significant increase from €416m in 2024. Gross profits were at €258m up from €224m. EBITDA for the year reached €170m, up from €154m. Profit before tax was €39m up from €29m.
In 2025, project sales totaled €620m, significantly higher than 2024. Our IPP portfolio also grew, but curtailed production, limited power sales to €138m, only marginally above last year.
“European Energy has delivered operational significant progress and activity across our core renewable energy portfolio as well as achieving significant progress within our new business areas in Power-to-X and Battery Energy Storage Systems,” said Knud Erik Andersen, CEO and co-founder of European Energy.
“We continue to scale as a company, and our progress reflects the maturity of our pipeline and of our operating model. Whilst the financial results reflect a challenging power market with curtailments, our operational achievements lay the foundation for long-term growth.”
To address curtailment and margin pressure, European Energy launched a fast-track roll-out of Battery Energy Storage Systems (BESS) across existing and new projects. The BESS pipeline expanded from 2.4 GW to 7.4 GW. Grid-connected BESS capacity reached 54 MW and a storage capacity of 204 MWh following an upgrade at Kvosted Energy Park, the largest combined solar and battery park in Northern Europe. Further upgrades with battery systems are planned to improve flexibility and revenue across solar and wind projects.
A key development in 2025 was the start of operations at the Kassø e-methanol facility in Denmark, the world’s first large-scale commercial plant of its kind. E-methanol is produced using renewable electricity and biogenic CO₂, supplying the shipping and chemical industry with an alternative to fossil-based fuels.
During the year, 1,189 MW of renewable energy projects reached final investment decision and entered construction, up from 666 MW in 2024. In parallel, 6 GW of projects were in the structuring phase at the end of 2025, demonstrating the strength and maturity of the development pipeline. By year’s end, European Energy had approximately 1.3 GW of capacity under construction across eight countries and together with its managed assets, a total energy production capacity of 3.8 GW across five technologies.
European Energy grid-connected 662 MW of renewable capacity across 14 projects and produced 4.5 TWh of renewable electricity from owned assets as well as assets that the company manages, equivalent to the annual consumption of approximately 1.2 million European households. Through this renewable electricity production, 1 million tons of CO₂-equivalent emissions were avoided during the year.
Commercial activity remained high throughout the year. European Energy secured more than 20 power purchase agreements (PPAs) and contracts for difference (CfDs), covering more than 1.2 GW across Europe and Australia, providing long-term revenue visibility and supporting project financing.
“The board views this year’s progress as an important step in positioning European Energy for the next phase of growth. As market conditions improve, the foundation will enable us to seize opportunities with speed and scale,” said Jens Due Olsen, Chair of the board of European Energy.
“European Energy has broadened its technology base and strengthened its project pipeline across the board.”
Looking ahead, European Energy expects improved financial performance in 2026, supported by higher project sales, reduced curtailment and the growing integration of BESS across its operating assets. The company’s EBITDA outlook for 2026 is EUR 200–300 million, subject to market conditions and the timing of project divestments.
Download the report here.
