European development business

The Company is advancing a 12 GW onshore greenfield portfolio consisting of solar, battery and data centre projects in the UK, Germany and France, which are some of Europe’s most attractive renewable energy and data centre markets. The projects are developed by experienced teams with a proven track-record in project origination and development in these markets. Project realisation depends on several factors, such as permitting, fulfilment of projects milestones and commercial viability.

The Company has a dynamic approach to creating value from its European development platforms, where the main strategy will be to divest before significant construction costs are incurred. The Company is targeting multiple sales per year from this platform.

Germany, UK and France

Germany
  • Entered into agreements to sell 260 MW of Agri-PV projects since 2025 for up to 15 MEUR1
  • De-risked greenfield portfolio;  1.8 GW of battery projects with municipal approval and over 1 GW of additional solar projects with land reserved and available grid advancing towards RtP.

1Subject to the achievement of predefined milestones

United Kingdom
  • 6 large-scale projects of 2.9 GW at RtP with land and grid secured (split between 1.8 GW solar projects and 1.1 GW data centres)
  • Sales processes initiated for the 1.8 GW solar portfolio and 300 MW data centre project
  • Final connection details expected before the beginning of 2027
  • Multi-GW pipeline of additional solar and battery projects with land secured, positioned for future grid application windows
France
  • Conducting environmental studies for its first projects
  • Advancing initial projects towards the ready-to-permit milestone

Nordics

In the Nordics, the Company is progressing a range of stand-alone and co-located project opportunities with an estimated total capacity of around 1 GW, ranging from early-stage projects in the screening phase, through to projects with construction permits in place moving towards investment decisions. This allows the Company to organically grow its portfolio, optimise power generation and crystalise further value from its operational assets, which includes projects aimed at extending asset lifetimes, re-powering and consolidation of ownership.