European Energy, Mitsui secure bridge financing for Kassø e-methanol plant

Danish renewable energy company European Energy and Japanese conglomerate Mitsui have secured bridge financing for their joint venture developing a solar park and e-methanol plant in Kassø.

IMAGE: An aerial view of European Energy’s Kassø plant. European Energy

Bridge financing is short-term funding, used to cover immediate cash needs, until longer-term financing or expected funds are secured.

The agreement ensures continued operations at the project and supports further development of e-fuels for hard-to-abate sectors.

The Kassø project integrates large-scale renewable electricity generation with e-methanol production, demonstrating how Power-to-X technologies can enable decarbonisation in industries where direct electrification is not technically or economically feasible.

Power-to-X technology converts renewable electricity into fuels, chemicals, or materials—such as hydrogen, ammonia, or e-fuels—for use beyond the power sector.

The project has been designed to produce up to 42,000 mt of e-methanol annually, depending on operating conditions, using renewable power supplied by the adjacent solar park.

Construction began in 2023, and the first batch of e-methanol was delivered in May 2025 during the inauguration ceremony to the container vessel Laura Mærsk, operated by key offtaker A.P. Moller – Maersk.

Additional offtake agreements are in place with the LEGO Group and Novo Nordisk, among others.

By Tuhin Roy

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