Press release: Nykredit and Momentum Energy Group enter partnership on green transition

Nykredit Bank A/S and energy company Momentum Energy Group A/S have entered a partnership to future-proof the green transition at a time where the deployment of renewable energy is historically challenged by difficult market conditions.

With the agreement, Nykredit is providing a financial facility of a substantial nine figure amount in DKK, which will support Momentum’s continued development and acceleration as a player in the European renewable energy market. For Nykredit, contributing to the green transition is important, and the partnership with Momentum forms part of the financial institution’s strategic initiatives.

Group Managing Director at Nykredit, Tonny Thierry Andersen, states:

“As a customer-owned financial institution, we have made a pledge to society to help create a greener Denmark for future generations. This is our obligation, as we are primarily owned by an association of our customers. Therefore, we are pleased to enter into a partnership with Momentum Energy Group to best support the company’s future growth.”

For Momentum, the partnership with Nykredit provides the Roskilde-based company with financial strength, ensuring its ability to act when the right opportunities arise. This could include the acquisition of older wind turbine assets or the development of new renewable energy projects in Denmark, Germany, and potentially other markets.

CEO of Momentum Energy Group, Rasmus Sielemann Christensen, states:

“At Momentum, we are very pleased to see that our business diversification is also recognised by the financial markets, and the partnership with Nykredit is a clear endorsement of our business model. This agreement secures us a sustainable position in the European renewable energy market, both with life-time extension of older assets and a strong pipeline of new renewable energy projects.”

The long-term nature of the partnership is important for both Nykredit and Momentum and reflects recognition of Momentum’s market position combined with a strong belief in the future of renewable energy on market terms.

Group Managing Director at Nykredit, Tonny Thierry Andersen, states:

“At Nykredit, we believe that the green transition is right and necessary, and it is important for us to support companies that improve Denmark. With a unique business model, Momentum is not only able to keep existing wind turbines operating for longer, but they also build a strong business around it. That is why we are pleased to enter into this new partnership.”

CFO of Momentum, Annette Nylander, states:

“In a market characterised by uncertainty and tighter financing conditions, securing a deal of this magnitude is far from given. It requires a business model that is robust, scalable, and credible. That is why we are proud of the partnership with Nykredit – it is a clear expression of confidence in our strategy and our ability to deliver. The agreement provides us with the necessary foundation to realise our growth ambitions within renewable energy.”

Through the partnership, Nykredit has ensured that Momentum can scale and accelerate an already stable development within renewable energy. The partnership between the two companies is an example that there remains both will and ability to develop more renewable energy on market terms for the benefit of people, nature, and European competitiveness.

Contact

For inquiries, please contact:

Momentum Energy Group: Head of Public Affairs, Andreas Nøhr Vestergaard, tel. +45 21 78 67 28 or anv@momentumgreenenergy.com

Nykredit: Press Relations, tel. +45 20 56 07 06 or presse@nykredit.dk