European Energy A/S and Mitsui & Co., Ltd. secure green-financing bridge facility for Kassø e-methanol facility

 European Energy A/S and Mitsui & Co., Ltd. have secured a green-financing bridge facility for their joint venture developing the solar park and e-methanol plant in Kassø, formally known as Solar Park Kassø (SPK). 

The Kassø project integrates utility-scale renewable power generation with e-methanol production, demonstrating how Power-to-X solutions can support decarbonisation in sectors where direct electrification is either impractical or too costly. Construction commenced in 2023, and the first shipment of e-methanol was handed over during the inauguration on 13 May 2025 to the container vessel Laura Mærsk, operated by major offtaker A.P. Moller–Maersk. Further offtake agreements have also been secured with the LEGO Group, Novo Nordisk, and other partners.

The facility is engineered to manufacture as much as 42,000 tonnes of e-methanol per year, subject to operational performance. It uses renewable power supplied directly from the neighbouring solar park, enabling traceable, locally generated electricity to feed the production process. Nordea and SMBC served as Bookrunners and Mandated Lead Arrangers for the bridge financing, with Nordea also taking on the roles of Documentation Agent and Security & Facility Agent. The financing package is supported by a partial guarantee from EIFO, reflecting its ongoing involvement in the project.