2021-06-10 20:04News

10 June 2021

Mundus Nordic Green News

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Sweden far ahead in green steel development: SEI researchers

The Stockholm Environment Institute, SEI, together with Lund University, IVL and the German think tank Agora Energiwende, has mapped the development of green steel in a total of 17 countries. Sweden was identified out as the most ambitious country, with a total of around SEK 300 billion announced for various green steel projects. For second-placed South Korea, the corresponding figure was around SEK 70 billion, while Germany was third with just under SEK 7 billion.

In seven of the world's ten largest countries in steel production, at least one green steel project has been initiated according to the survey. Two thirds of the total of 47 projects, and the majority of investments, take place in Europe. Gökçe Mete, a researcher at SEI, sees a partial explanation for European dominance in the fact that there is clarity and predictability in the regulations and climate objectives. She sees another partial explanation in the EU's emission rights system, which have increased the cost of carbon dioxide emissions for the steel industry. The availability of energy is another factor that affects the plans for green steel, she states. “The hydrogen route requires a lot of energy. So either the country needs to have plenty of renewable energy or at least have plans to increase production." Another thing that distinguishes European countries from many others is that steelworks are generally older. “If you have an older steelworks, it is easier to justify a conversion because you will still have to make a new investment."

According to SEI's survey, there are no public plans for green steel in the United States. Mete says that the big unknown is China. "There is an expectation that more Chinese companies will announce plans for green steel, but it is unknown which technology they will choose. The outcome will be important because China is the world's largest steel producer.” (Dagens Industri)

Danish state's bill for biogas reaches alarming heights

The debate about the support for biogas has been raised again in Denmark, after a new projection that shows the support in the years from 2020 to 2030 will amount to DKK 43 billion, or approximately DKK 4 billion annually.  "It is a frighteningly large amount and a lot of money to seize," says Brian Vad Mathiesen, Professor of Energy Systems at Aalborg University. (Politiken)

Vordingborg Biofuel plans to invest DKK 2 billion to manufacture biomethanol and e-methanol from straw

Vordingborg Biofuel, which was founded in March 2020 plans to invest around DKK 2 billion in the Port of Vordingborg, south of Copenhagen. Once in operation the new facility will produce up to 200,000 tons of biomethanol annually from straw. Alongside it will be a Power-to-X plant that can manufacture another 100,000 of e-methanol.  (Vordingborg Erhverv)

Ocean Sun shares plunge after accident

Ocean Sun was informed on Wednesday night about an incident with a floating solar power plant at Statkraft Banja's hydropower reservoir in Albania, according to a stock exchange announcement. The facility was only installed last week, and a floating ring with membrane and two connected barges has been severely damaged and is partially under water. Salvage of assets, including solar panels, is in progress.

CEO Børge Bjørneklett, said that they still did not know the cause, and it was too early to say whether the accident will affect the deployment of the other three rings at the Albania facility, or whether it will affect other Ocean Sun projects. Predictably the share price reacted, as if on a rollercoaster – having been up 16% yesterday it fell back 14% today. Bjørneklett added that “It's like driving a Ferrari into the ditch”. (Finansavisen, headtopics)

Norwegian accelerator program launches for hydrogen startups

Between 31 August and 17 September 2021, 10 selected start-ups and growth companies will have the opportunity to establish contacts with leading Nordic industry partners, investors and experts in business development. The goal of the Nordic H2 Launcher program is to prepare these ten companies for further growth and international scaling. It will be carried out in collaboration with experienced partners, including Arena H2Cluster, the Norwegian hydrogen cluster, Statkraft, Industrial Green Tech, Vätgas Sweden and Nordea. (Dagens Miljö Teknik)

What we’re reading
  • Shell will rise to the challenge (Ben van Beurden, LinkedIn)
  • EU and U.S. eye more collaboration on climate change, summit draft says (Reuters)
  • EU's carbon border tariff to target steel, cement, power – draft (Reuters)
  • Developer pulls the plug on Keystone XL oil pipeline (CNN)
  • Canada's oil sands producers form alliance to achieve net-zero emissions by 2050 (Reuters)
  • European airlines step up lobbying against EU climate rules (Financial Times, paywall)
  • A turning point for green finance (FDI Intelligence)
  • Tech and sustainability drive Europe’s FDI rebound (FDI Intelligence)


About Mundus Nordic Green News

The Nordic countries are some of the most dynamic and successful economies in the world. They are also leaders in sustainability, from renewable energy, biofuels, carbon capture and storage and the hydrogen economy, circular economy business models and battery development, the Nordics are pioneers in policy design, technology development and consumer uptake. Mundus Nordic Green News is covering this transition for the international community. Every day we clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.