Mitsubishi HC Capital, a Japanese investment firm, has become the second-largest shareholder in Danish renewable energy developer European Energy A/S by acquiring the equivalent of 75 million shares. Knud Erik Andersen, the CEO of European Energy, says the transaction more than triples the company’s equity.

Japanese investment firm Mitsubishi HC Capital has acquired a 20% stake in Danish renewable energy developer European Energy.

European Energy says the agreement brings in Mitsubishi HC Capital as a strategic partner and significantly strengthens its capital base and growth potential.

The 20% stake is equivalent to approximately 72 million new shares in European Energy. Mitsubishi HC Capital will also purchase around 3 million shares from three existing major shareholders, making the investment firm the second-largest shareholder in the company.

The transaction is subject to regulatory approvals, but is expected to be completed in the first half of the year. The financial terms of the transaction have not been revealed.

“The capital injection more than triples our equity, offering us increased opportunities to accelerate our business,” said Knud Erik Andersen, CEO and co-founder of European Energy.

European Energy claims to have operations in 28 countries, with a development pipeline exceeding 60 GW.