Dutch utility Eneco to double solar and wind capacity to 2.5GW in five years

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
Image: Eneco.

Dutch energy firm Eneco is aiming to ramp up its solar energy portfolio in both the Netherlands and Belgium as part of an updated strategy aimed at accelerating the energy transition.

After adding 202MW of renewables in 2020, the company is looking to double its solar and wind capacity to 2.5GW in the next five years.

The announcement comes a year after Mitsubishi Corporation and Chubu Electric Power completed their €4.1 billion (US$4.5 billion) acquisition of Eneco. The utility said collaboration between its new shareholders has been valuable in drawing up the strategy.

Eneco’s recent solar developments have seen it partner with online retailer Bol.com, installing 13,000 panels at a distribution centre in the Netherlands, while a new deal with Coca-Cola in the country will see the utility provide power from the de Wildert solar farm to the drinks firm as of next year.

Publishing its 2020 financial results, Eneco revealed that its electricity sales were down, in part due to the COVID-19 pandemic resulting in empty offices and less travel by train. “Therefore we had to sell back energy volumes at lower market prices,” the company said. Revenue was down 4.2% year-on-year to €4.15 billion (US$4.93 billion).

Although electricity revenue fell in Belgium and the Netherlands, this was offset by new customers in Germany following the company’s acquisition of E.ON Heizstrom.

Against a background of ongoing changes in the role of European and national authorities, legislation and regulations, Eneco said it will not issue a results forecast for this year.

Read Next

April 8, 2021
Iberdrola has formed a strategic alliance with insurance company Mapfre that will initially invest in 230MW of clean energy projects in Spain, including 130MW of solar PV.
March 30, 2021
Australian utility AGL Energy has proposed a structural separation of the company that would involve the creation of two separate businesses: one focused on energy retailing and the other on large-scale electricity supply.
March 30, 2021
BayWa r.e. and its Dutch subsidiary GroenLeven have expanded an agrophotovoltaic installation in the Netherlands to help protect fruit from hail, heavy rain and extreme heat.
March 26, 2021
German agriculture group BayWa is forecasting a significant revenue rise for its renewables unit this year, thanks to a strong project pipeline and growth in PV component trading.
PV Tech Premium
March 22, 2021
With green hydrogen from renewables at the core of a number of decarbonisation strategies globally, the first large-scale projects face a number of challenges integrating into the energy system. Molly Lempriere explores the barriers to developing large-scale green hydrogen, the technologies easing interaction and the benefits of hydrogen for grid balancing and storage.
March 22, 2021
Major polysilicon and wafer producer GCL-Poly Energy Holdings expects a net loss of at least US$891 million, its largest on record.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 13, 2021
Solar Media Events
April 20, 2021
Upcoming Webinars
April 28, 2021
4:00 - 4:30 PM CET