Eurowind Energy to increase investment in renewables, in both solar and wind

The Danish developer Eurowind Energy has pledged to increase investment in renewables, in both solar and wind.

The pledge comes after the company achieved strong results for 2022/23. It said that it had generated a revenue of €232m compared to €173m the year before.

“Every Euro we make will be reinvested in the next solar panel or wind turbine. We will use the profit to increase our activity level. In all our markets there is great demand for what we can deliver: cheap green energy, which is also the cure for the disturbance on the energy market,” Eurowind Energy chief executive Jens Rasmussen, was quoted in a statement.

He also mentioned that the company witnessed profit from its existing facilities and Norlys Energy Trading help.

Meanwhile, Chairman of the board of directors Gert Vinter Jorgensen remarked, “It is very satisfactory that our strategy is robust when the world is marked by unrest. Now Eurowind Energy is well equipped to increase the activity level even more in the coming years. We expect to invest hundreds of millions of Euros already in the current financial year.”

The company plans to contribute towards the green transition in Europe.

According to the developer, its “the parks produced more than 2TW/h in 2022-2023, which corresponds to the consumption of approximately 515,000 European households.”

By mid-2022, the company added its portfolio of development projects to 34.4GW, with a technology distribution of 50% wind, 44% solar PV, and the remaining 6% in biogas and storage, a local report mentioned.