US$78.4 million Financing secured for 68 MW Hybrid Renewable Project in the UK

European Energy has secured GBP 58.1 million (US$78.42 million) in construction financing from Danske Bank for its Indian Queens hybrid renewable energy project in Cornwall, United Kingdom.

The financing supports the ongoing construction of the project, which combines a 68 MW solar park with a 47.5 MW / 95 MWh battery energy storage system. Commercial operations are expected to commence in 2027.

The project forms part of European Energy’s strategy of developing hybrid renewable energy assets that combine generation and storage to improve grid utilisation, increase operational flexibility and create more attractive long-term investment opportunities.

The solar farm will produce approximately 60 GWh of renewable electricity annually, and the co-located battery system will store excess solar energy generated during periods of high sunlight for use during peak demand hours or when solar generation is low. The project has secured both a corporate power purchase agreement (cPPA) for the solar output and a Capacity Market Contract (CMC) for the battery storage component, supporting long-term revenue stability.

Once operational, the Indian Queens project will contribute to the UK’s renewable energy capacity while offering a combination of contracted revenues and operational flexibility. The project forms part of European Energy’s broader pipeline of solar and storage developments designed to meet investor demand for de-risked, integrated energy assets in Europe.