Press Release:
Momentum Energy Group A/S reflects on a challenging 2025
Momentum Energy Group A/S presents its 2025 annual report, reflecting an adjusted EBITDA result of DKK 30.7 million. By several measures, 2025 was challenging for Momentum, ending with a negative operating result, influenced by weakness in wind and broader market conditions, as well as several extraordinary balance sheet write-downs. Despite the result, there are also bright spots and reasons for optimism, as strategic initiatives implemented during the year have left the company in a much stronger position for the future.
CEO Rasmus Sielemann Christensen states: “At a time when renewable energy is facing difficult conditions in Denmark, it has been necessary to make substantial adjustments in order to strengthen our competitiveness in the market. Market conditions in 2025 were extremely challenging, with poor wind yields, both volatile and low electricity prices, in addition to rising costs. We have therefore implemented a number of organisational, commercial, and accounting-related adjustments that were necessary to secure our future.”
The annual result can be attributed to a variety of factors, all rooted in the difficult conditions facing onshore renewable energy. In light of these conditions, Momentum has recognised impairments of DKK 103 million on assets, primarily wind turbines, and has additionally written off DKK 53 million in development costs related to discontinued renewable energy projects. On an adjusted operating level, the Company recorded DKK 30.7 million of adjusted EBITDA, which represents an unsatisfactory outcome in the context of Momentum’s earnings potential.
“Onshore renewable energy in Denmark is facing strong headwinds, where both electricity prices and regulatory conditions are impacting the economics of our existing assets as well as our development projects. At the same time, we are seeing significantly higher costs associated with establishing onshore renewable energy projects.” says Rasmus Sielemann Christensen.
The write-down of wind and solar projects is due to low electricity prices, which negatively impact the financial outlook of the projects. In addition, regulatory conditions and lengthy decision-making processes have created such significant challenges for parts of the project pipeline that the projects are now being shelved.
The unsatisfactory operating result is due to low production caused by unfavourable wind conditions, both lower and more volatile electricity prices, as well as increased imbalance costs following the introduction of a new imbalance pricing model. In addition, higher component costs and inventory write-downs in the service business, Momentum Energy Services, have negatively impacted results. Finally, 2025 was also a year marked by substantial organisational adjustments and the resulting one-off costs.
As part of these adjustments, the team has also been strengthened with new employees in key roles, including battery solution development, project execution, and electricity sales. In addition, Rasmus Sielemann Christensen joined as CEO in March 2025, and Jan Nørgaard was appointed Managing Director of Momentum Energy Services in September 2025.
“Internally, 2025 has been a year of major transformation for Momentum, but overall our initiatives mean that Momentum enters 2026 in a far stronger position. We have tightened operations and strengthened our foundations. We now have a stronger organisation and a more focused pipeline. At the same time, a great deal is currently happening in the field of battery solutions, and political understanding of our industry and our contribution to society is increasing. The political recognition that energy is the path to both security and freedom has become clearer. And onshore renewable energy remains the fastest, cheapest, and safest way to deliver more green energy to Denmark,” says Rasmus Sielemann Christensen.
Momentum’s strategic direction for the future is also clear. The company aims to continue growing its asset management and service businesses while continuing to acquire wind turbines in Denmark with the purpose of lifetime extensions and repowering. Today, the remaining project pipeline consists of renewable energy projects with sound profitability, and the company remains committed to adding projects to its pipeline through both development and acquisitions.
“Like other renewable energy companies, we have made a number of historic investment decisions based on assessments of market conditions many years into the future which have not fully materialised. Despite this, we are left with a strong company and a clear plan for weathering the storm, and our owners and investors remain supportive and continue to have an appetite for profitable growth,” says Rasmus Sielemann Christensen.
The annual report is available at momentumgreenenergy.com/en/investor-relations/
For press inquiries or other questions, please contact:
Andreas Nøhr Vestergaard
Head of Public Affairs
Phone: +45 21 78 67 28
Email: anv@momentumgreenenergy.com