Denmark's Better Energy finishes transformation from solar designer to IPP

• Danish solar business Better Energy is expecting to boost its economic performance this year thanks partially to its transition from a project designer to an independent power producer (IPP).

The firm last year completed its long-term method of becoming an IPP as well as now has a possession risk in 190MW of operational possessions. In its annual report, the business stated annual repeating revenues from the IPP design are higher than the short-term returns from the divestment of solar parks.

"As opposed to concentrating on creating and also offering solar plants, we are currently concentrating on creating as well as offering eco-friendly electricity. This is a vital step we have actually taken," claimed Rasmus Lildholdt Kjær, CEO of Better Energy.

The company stated its "fast shift" to an IPP was feasible thanks to a mixture of monetary collaborations along with business arrangements that have actually enabled it to construct subsidy-free solar projects that supply energy to companies such as Google and food ingredients maker Chr. Hansen.

The "build-hold" approach has actually additionally seen Better Energy become part of an arrangement with Danish pension fund Industriens Pension, which will certainly lead to the development of roughly 1GW of brand-new solar projects in Denmark as well as Poland that are expected to go online in the following two years.

Better Energy's solar implementation in 2020 saw it total 154MW of projects in Denmark, 60MW in Poland and 12MW in Sweden. Since completion of last year, the business had roughly 450MW of solar under construction and a pipeline of 6GW.

The divestment of solar projects helped Better Energy practically increase its income last year to DKK1.07 billion (US$ 173 million), and also operating earnings rose to DKK149 million (US$ 24.2 million). With greater degrees of task in 2021, the firm anticipates to post revenue of DKK1.3-1.6 billion this year.