Since 2007, the Company has increasingly been focusing on developing its own projects. Accordingly, the primary growth in 2009 took place within project development with a significant growth in the consolidated project pipeline of which several projects are close to achieving final building permits.

138% increase in the wind development pipeline

In the course of 2009, European Energy including associated enterprises more than doubled its wind pipeline. In total, the wind pipeline was expanded from 561MW in 2008 to 1,334MW in 2009 – corresponding to a 138% increase.

41% increase in the solar development pipeline

2009 was influenced by a considerable expansion of the project pipeline by nearly 41%. A larger part of the solar development pipeline was close to obtaining building permits at year-end 2010. The development time for solar projects is in general shorter than for wind projects.

Significant ivestment potential

With the considerable development in the Company's wind and solar project development pipeline, the Group has more than doubled its investment potential which at year-end 2009 amounted to EUR 2,544 million. The considerable price drop in the calendar year for the building of solar power plants has been considered in the computation.

Even with a normal loss of projects during the project development progress, the Company's investment potential for the coming years is significant, for which reason financial partnerships will be entered into with a range of partners.