European Energy Has Shown 71% Growth by the End of 2020

The largest European supplier and construction investor into green power, the European Energy Company reports its immense growth in 2020 and makes ambitious plans for 2021.

The report shows the increase in EBITDA by 38% to €61.2 million while gross profit has gone up by 29% to €73.9 million and equity has risen by 71% to €235.5 million since the end of 2019.

Knud Eric Andersen, the SEO of the company, concludes that the business model of European Energy is quite efficient in the new conditions of the COVID-19 pandemic and renewable energy is to develop further in the nearest future. Mr. Andersen reports the company’s participation in some extra construction projects aimed at renewable energy introduction in many countries. These projects are about to be launched in the first quarters of 2021.

Despite the low prices for electricity in Northern Europe, its sale increased by 41% in 2020 showing growth from €30.9 million in 2019 to €42.9 million by the start of 2021.

In 2020, the company opened six new offices in Germany, Scotland, Italy, Spain, Brazil, and Lithuania. Seven PPAs (Power Purchase Agreements) were signed in 2020 with the largest manufacturing companies that strive to reduce their carbon footprint by using renewable energy.

European Energy is quite optimistic about 2021 planning the increase in EBITDA and profit by 30%. It is rooted in the ambitions of many political figures in most countries to introduce and develop renewable energy facilities since solar and wind powers are both the cheapest and most eco-friendly ones.

In general, by the end of 2020, the European Energy Company features figures of more than 600 MW for power plants under construction and over 800 MW for those that are about to be built.

The main solar energy event - CISOLAR 2021, 10th Conference and Trade Show of Central and Eastern Europe will be held on May 25-27 in Kyiv and online!

Registration and tickets are available:

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