NIB finances battery storage addition to solar park in Denmark

• NIB has signed a 11-year, EUR 21.5 million loan with Solar Park Kvosted.
• The investment will co-finance the construction and operation of a 50MW/200MWh battery energy storage system (BESS) at Solar Park Kvosted in Denmark.
• The project, in Viborg Municipality in Central Jutland, is owned by European Energy A/S and is supported by the InvestEU programme.

The loan will enable Solar Park Kvosted ApS to transform its existing 100 MWp solar PV park into a hybrid facility by adding a large-scale battery system, making it one of the largest of its kind in Northern Europe. This project will allow the park to store renewable energy during periods of low demand and release it during peak hours, increasing flexibility, supporting grid stability and reducing reliance on fossil fuels.

The BESS will also provide additional services to the power system and help integrate more
renewable energy into the Danish grid. Construction began in November 2025, and the facility was inaugurated in February 2026.

Jens-Peter Zink, Deputy CEO of European Energy said: “The financing for Kvosted supports the operation of the asset as an integrated solar and storage facility and provides a robust foundation for long-term value creation. We value our strong cooperation with the Nordic Investment Bank in making this project a reality.”

André Küüsvek, NIB President and CEO, said: “This project advances a cleaner, smarter energy system by pairing battery storage with solar power, making solar energy more reliable and strengthening energy security in the Nordic–Baltic region.”

European Energy A/S is a developer and operator of renewable energy projects, with activities across wind, solar, battery storage, and Power-to-X technologies. Headquartered in Denmark, the company is committed to driving the green transition and operates projects in multiple countries.

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds. It aims to trigger more than EUR 372 billion in investment for EU policy priorities, such as the European Green Deal, the digital transition and support for small and medium-sized enterprises. NIB has been InvestEU implementing partner since December 2022.

NIB is the international financial institution of Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway, and Sweden. The Bank finances projects that improve productivity and benefit the environment of the Nordic-Baltic region. The Bank is headquartered in Helsinki with a regional hub in Riga. NIB has the highest possible credit rating, AAA/Aaa, with S&P Global Ratings and Moody’s.

Contacts

Patrik Marckert, Head of Project & Structured finance, +358 10 618 0266, patrik.marckert@nib.int

Oliver Mølvang Hermansen, Associate Communications Officer, +358 10 618 0225, oliver.hermansen@nib.int