1 November 2022

Vestas introduces 115.5 metre long wind blade 

Danish wind energy giant Vestas has unveiled a 115.5 metre long wind blade, the first of three built for its 15 MW offshore wind turbine prototype. It is the largest of its kind produced by Vestas to date. However, despite the growing size of wind turbines, European wind turbine orders fell by 36% in 3Q22, well below the level needed for Europe to meet its energy and climate goals. New data released by WindEurope, Europe's wind energy trade body, shows that wind turbine orders in the third quarter were limited to nine countries and onshore, with no new offshore orders announced. Overall, only 2 GW worth of new turbine orders were placed in the third quarter, with Finland leading the way with 322 MW. Total orders for wind turbines in Europe reached 7.7 GW in the first nine months of the year, well below what is needed to meet the region's energy and climate targets. Considering that the EU wants to install 510 GW of wind energy by 2030, the European wind industry should be installing 39 GW of new wind energy per year by 2030.

Reneweconomy

High speed development at a time of industrial change in Sweden

Today, the Swedish Energy Agency released "Industry - Status and Conditions for Change" to the Ministry of the Environment. The analysis, conducted as part of the governmental investment Industriklivet, describes the development of the climate transition in Swedish industry. The Swedish Energy Agency is responsible for Industriklivet which aims to accelerate the green transition. By 2022, SEK 623 million in co-financing has been allocated to industries across the country, totaling more than SEK 2 billion since the investment began. The report shows that the Swedish industry is investing heavily in research and innovation to change its production methods to be fossil fuel free. However, it will be some time before any significant reductions in emissions can be identified. In addition to reducing the climate impact of the industry that innovation can bring, the zero-emissions industry has other positive impacts. The report also shows that：

• Among the emission-intensive sectors, the steel industry - also the largest emitter - is the furthest along. At least in one of the technology tracks of interest to the industry, namely hydrogen-based direct reduction.
• The refining and chemical industry is focusing on several technological solutions to minimise emissions, such as the transition to fossil-free hydrogen, renewable feedstocks, electrofuels and electrochemistry, and chemical recycling of plastics.
• In the minerals sector, Cementa, Sweden's largest cement producer, has announced that it will be climate neutral by 2030. 

VIA

Sustainable and integrated Nordic region a top priority

The Nordic Council meeting will be held in Helsinki from 31 October to 3 November. In addition to the 87 members of the Nordic Council, a significant number of Nordic Ministers will also be present. At the top of the agenda for the meeting is the effort to achieve the Nordic Council of Ministers' vision of the Nordic region becoming the most sustainable and integrated region in the world by 2030. At the meeting, the Ministers decided to be steadfast in achieving the vision and its three strategic priorities - a green, competitive and socially sustainable Nordic region. They also noted that the environment and climate must continue to be at the forefront of the Nordic Council of Ministers' work. Among other things, the Ministers are reporting on the mid-term assessment of how the Nordic Council of Ministers achieved the vision during 2021 and 2022. The assessment shows that the Nordic Council of Ministers has achieved concrete results in its work to achieve the goals stated in the vision. However, it also shows that there is room for further development.

Press Release 

Hexagon Purus doubles turnover with NOK 222 million in 3Q22 

Hexagon Purus reported sales of NOK 222 million in the third quarter. This is double the NOK 103 million reported during the same period last year. The company said the increase in turnover was probably related to the acquisition of Wystrach, which generated sales of NOK 143 million. The company supplies hydrogen tanks for the transportation industry, as well as battery packs for hydrogen and battery electric vehicles. In December 2020, Hexagon Purus was spun off from the publicly traded Hexagon Composite and listed as a separate company on Euronext Growth.

E24

Implenia orders TECO 2030 Fuel Cells for construction sites

Infrastructure contractor Implenia Norway has ordered two FCM400 hydrogen fuel cell modules from TECO 2030 ASA for its HydroPilot project. The initial order was worth NOK 20 million with an option to install two additional FCM400 systems and complete power and automation equipment. If the option is exercised, the total value of the contract amounts to NOK 30 million. These fuel cells are scheduled for delivery in 3Q23. Each fuel cell module has a net power output capacity of 400 kW and features a scalable, modular design. Today's order builds on a previously announced collaboration between TECO 2030 and Implenia and a subsequently announced grant from Norwegian state-owned company ENOVA to develop and test hydrogen-powered solutions to eliminate emissions from construction sites.

NTB

Green Hydrogen Systems reports growing losses

Danish hydrogen company Green Hydrogen Systems has released its financial statement for the third quarter. The company's operating result measured by EBITDA shows a loss of DKK 50.7 million for 3Q22. This compares to a loss of DKK 38.6 million in the same period last year.

Turnover in 3Q22 amounted to DKK 0.3 million compared to DKK 0.2 million in the same quarter last year. Green Hydrogen Systems maintained its guidance for 2022 presented on 25 August following a rating downgrade. Its share price has fallen 62% in the past year.

Euroinvestor

What we're reading

• G7 asks India to join a Just Energy Transition Partnership (JETP) (Hindustan Times)
• Nothing will change on climate until death toll rises in west, says Gabonese minister (The Guardian)
• Task to build new EU gas benchmark will be ‘demanding’, admits regulator (Financial Times)
• France to plant 1bn trees by 2030 (Euractiv)

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