EXECUTIVE SUMMARY

Battery storage deployment advanced across European Energy’s renewable portfolio, with seven systems totaling 167 MW / 545 MWh installed by August 2026. Six additional projects were under construction across Europe and Australia, while the company progressed project divestments, Power-to-X activities and plans to increase e-methanol production at Kassø.

Denmark based renewable energy provider European Energy has expanded its battery energy storage activities during the first half of 2026 as storage and hybridisation became a larger part of its renewable energy portfolio. By August 2026, the company had installed seven battery storage systems totaling 167 MW / 545 MWh across Denmark and the Baltics.

A further six battery projects were under construction across Denmark, the UK, Australia, Poland and the Baltics. European Energy said integrating battery storage with renewable generation can improve capture prices, reduce balancing costs and limit exposure to low or negative electricity prices. Storage assets can also participate in ancillary service markets.

The BESS expansion formed part of wider activity across European Energy’s development, construction and operating portfolio. At the end of the first half, 1,009 MW of projects were under construction. Its operating renewable energy portfolio reached 1.76 GW, representing a 31% increase from the corresponding period a year earlier. Renewable electricity production totaled 1,041 GWh during the first six months of 2026.

Financial results reflected the timing of project divestments. European Energy reported Q2 2026 EBITDA of EUR 7.2 million, compared with EUR 53 million in the same quarter of 2025. Several larger asset divestment processes were progressing, while power sales generated EUR 76 million in revenue during the first half.

The company also continued developing its Powered Land concept for data centre developments. Around 5 GW of its development pipeline has been identified as potential candidates for the concept, which combines land, planning, grid connections, substations, renewable generation and battery backup.

In Power-to-X, European Energy received more than EUR 200 million through a German hydrogen tender and entered cooperation with ENGIE on large-scale green hydrogen development. Its Kassø facility also secured additional e-methanol offtake arrangements. Following increased order intake, European Energy is working to raise annual production capacity at Kassø from the originally planned 32,000 tonnes to more than 40,000 tons.