European Energy A/S and Mitsui & Co., Ltd. have arranged a green-financing bridge facility for their joint venture developing the Kassø solar park and e-methanol facility in Denmark. The facility has been secured from Nordea and SMBC, with partial risk coverage provided by EIFO. The bridge financing is intended to support near-term liquidity requirements while the project continues to progress towards securing long-term financing.
The agreement underpins the continued operation of the Kassø facility, formally known as Solar Park Kassø. The Kassø facility began producing e-methanol in May 2025 and has been designed with an annual production capacity of up to 42,000 tonnes, subject to operating conditions. The project integrates large-scale solar power generation with e-methanol production, with renewable electricity supplied directly from the adjacent solar park to the Power-to-X facility.
Construction of the plant commenced in 2023, and the first volume of e-methanol was delivered during the project’s inauguration in May 2025. Offtake arrangements have been established with A.P. Moller-Maersk, the LEGO Group, and Novo Nordisk. Furthermore, Nordea and SMBC acted as bookrunners and mandated lead arrangers for the bridge financing, with Nordea also serving as documentation agent as well as security and facility agent.