European Energy aims to reach final investment decisions (FIDs) on 3 GW of solar, onshore wind, and battery storage capacity over 2026, executive VP and head of development Thorvald Spanggaard told New Project Media in a recent interview.

This is more than double the FIDs that European Energy reached in 2025, which totalled 1.2 GW.

The 2026 target takes in 33 projects across European Energy’s primary markets of Australia, Baltic countries, Denmark, France, Germany, Italy, Ireland, Poland, Romania, and the UK.

“For us, a final investment decision means that financing and revenue arrangements are in place and the project has reached notice to proceed,” Spanggaard said. “At that point, the project is fully bankable and ready for construction.”

Financing processes for projects within the 3 GW target are underway but Spanggaard did not provide detail regarding any ongoing or planned debt raises.

However, the group’s 213 MW Vizzini solar scheme in Sicily, Italy is just one of the company’s projects envisaged to reach financial close in H1 this year.

Offering insight into European Energy’s offtake strategy, Spanggaard highlighted that the IPP pursues both commercial agreements and government-backed contracts.

“We typically seek to contract a substantial share of project revenues ahead of construction,” Spanggaard said. “This approach reduces financing risk and allows us to optimise the balance between fixed and merchant exposure in a way that is attractive to lenders, co-investors, and potential acquirers.”

To date, European Energy has secured offtake for more than half of the 3 GW of capacity it aims to reach FID on this year.

“Within the 3 GW FID pipeline, the majority of secured revenues are currently based on commercial PPAs,” Spanggaard said. “In parallel, we continue to pursue public support schemes and CfD processes across markets such as Germany, France, Poland, the UK, and Italy to further strengthen revenue visibility.”

European Energy systematically participates in government-backed auction frameworks across its core markets, which in 2025 saw the IPP awarded contracts for projects in Ireland, Germany, Italy, and Poland, covering wind, solar, and battery storage, including capacity-based mechanisms.”

Including commercial agreements, European Energy secured contracts for about 1.3 GW of capacity in 2025.

Earlier this month, European Energy was announced amongst the winners of Germany’s final 2025 onshore wind auction. Meanwhile, another auction round is currently open to bids and will close on February 2, 2026.

Sales plans

Over this year, European Energy also intends to continue with its sales programme, which supported the IPP in achieving revenue of EUR 589.7m over the first nine months of 2025, according to its latest interim report. Project sales accounted for 82% of revenue over the first months of 2025, with the remaining amount coming from energy sales (17%) and asset management (1%).

Project sales in 2025, were focussed in Denmark, Germany, Poland, and the UK. This year, the IPP will additionally target sales in Australia, the Baltics, and Czech Republic, and Sweden.

Spanggaard expects positive outcomes in these markets, saying: “We continue to see strong investor appetite across our core markets. Projects coming to market are characterised by contracted revenues, clear routes to COD, and a high level of execution certainty, supported by our track record in construction and delivery.”

He did not offer specific 2026 sales targets but stated that European Energy is aiming high.

The IPP had divested close to 1.3 GW of solar, wind, and BESS by the end of September 2025.

*This story was originally published exclusively for NPM Europe subscribers.