Andel Makes Major Move Into Solar Energy with Acquisition of 55MW Tryggevælde Project

Andel, a Danish energy company, has recently acquired the 55MW Tryggevælde solar project from European Energy. Located near Faxe in Denmark, the project has been running since early this year. The acquisition’s price was not disclosed by Andel. Jesper Hjulmand, CEO of Andel, commented on the venture: It is an absolute necessity for Denmark to switch to renewable sources of energy due to the climate crisis and our reliance on fossil fuels. With this investment, Andel will be at the forefront of transitioning to green energy production as part of a local cooperative-owned enterprise. He also states that Andel has so far concentrated its energies on renewable energy production from wind power but have now moved into solar power too. Additionally they are investing in other areas such as their work with the future North Sea island energy source in order to maintain various levels of value chain.

Summary

• Andel has acquired the operational 55MW Tryggevælde solar project from European Energy
• The park near Faxe in Denmark has been in operation since the beginning of the year.
• The acquisition price was not disclosed.

What is Andel’s commitment to investing strategically in a broad energy value chain?

Andel is committed to investing strategically in a broad energy value chain by maintaining their focus on renewable energy production from wind and future investments in the energy island in the North Sea.

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Picture source: Marten Bjork