Japan’s Mitsui 8031.T has agreed to buy 49% of an e-methanol plant and a connected solar plant from the privately owned renewable energy firm European Energy A/S, the Danish firm said on Wednesday.

The 304 megawatt (MW) solar PV plant is located in Kassoe in the Aabenraa municipality in Denmark, and the connected 52 MW e-methanol facility has a production of up to 42,000 metric tonnes of e-methanol per year, European Energy said in a statement.

The deal is expected to close in the third quarter of 2023 and will contribute positively to European Energy A/S’s financial position, the company said.

European Energy develops solar, wind and sustainable fuel projects in 19 countries globally with the aim of eventually selling them.

The company has solar and wind projects in operation in nine countries across Europe.

In May, it agreed to sell a 350 MW solar project in Texas to Osaka Gas. 9532.T
Source: Reuters (Reporting by Jacob Gronholt-Pedersen; Editing by Conor Humphries)