Case
Green financing
Photovoltaics
Solar energy
For 100 years, Jysk Energi has facilitated electrification and digitalization for companies and citizens of North and West Jutland. Today, more than 100 employees maintain and expand critical infrastructure as well as develop sustainable energy solutions and sell electricity and gas.
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The challenge of local resistance, also known as ‘Not In My Backyard’, often causes delays and uncertainty in energy projects. To combat this problem, the Danish energy utility Jysk Energi has taken a new approach to flip the phenomenon to ‘Yes In My Backyard’, when building Denmark’s first cooperative solar power plant in an equal partnership between the energy supplier and local citizens.
The project resulted in zero civil complaints and almost unanimous support from the city council. Citizens within a 4.5km distance were given the right of first refusal for 50 shares at a price of EUR 590 hundred (USD 624 hundred) per share. Today, ownership is split 50/50 between Jysk Energi and 679 local citizens in Lemvig Municipality.
With full transparency on all price assumptions and prerequisites, approximately 100 citizens chose to buy between one and five shares, while approximately 200 citizens bought between 21 and 50 shares. The maximum allocation was 145 shares, corresponding to an investment sum of EUR 85.5 thousand (USD 90.5 thousand). The solar power plant has an expected annual production of 50 GWh, corresponding to the annual electricity consumption of 12,000 households.
This is a part of the white paper “Financing the Green Transition”. Discover Denmark’s plans to mobilise investments to accelerate the transition to a carbon-neutral and climate-resilient economy.
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