Today, European Energy announced it had secured £58.1 million (US$78.45 million) in construction financing from Danske Bank; Jakob Hjørngaard, Danske Bank senior banker in large corporate banking, Denmark, said the transaction reflects the bank’s “commitment to the renewable energy market”. The project already has a corporate power purchase agreement (cPPA) in place, and European Energy noted that its BESS component has secured a capacity market contract (CMC) with the UK government. “Hybrid projects are becoming an increasingly important part of the renewable energy market,” added Jens Peter Zink, European Energy deputy CEO. Batteries, more broadly, are becoming increasingly important in the UK energy mix. The news follows a number of project advancements around the world for European Energy, including the installation of modules at the Winton North solar project in Australia in May.