11 May 2022
Norway’s Government presents offshore wind ambitions and opens to more interconnectors
During a press conference today, the Norwegian Government presented their future ambitions for the country’s offshore wind production. In the upcoming 20 years, Norway will go from having a total of 2 offshore wind turbines to 1,500, with a goal to develop 30,000 MW of offshore wind. The Government is now planning a step-by-step allocation of area for the new wind turbines and is hoping to open an area which is about 5 to 6 times as large as the Southern North Sea II, corresponding to 1% of Norway’s sea areas. In conjunction with the ambitious developments, the Government has decided to accept new foreign interconnector cables in the country.
Press release, Fædrelandsvennen
Giant Blekinge Offshore wind proposal is back at the negotiating table
In 2016, the Swedish Government declined the application for the record-breaking planned offshore wind farm Blekinge Offshore. However, five years later preparations for a new attempt are underway again. The goal is to get a permit for the now reworked project, which is estimated to cost SEK 25 billion. The project was previously declined by the Government due to the strategic defence location of Hanöbukten where the wind farm was planned to be built. After some moderation, the reworked project can now be implemented with regard to, among other things, the interests of Sweden’s defence.
Ørsted looks at Greenland for hydrogen production
In 2023, the Greenlandic Self-Government will send 800 MW of hydropower to tender. According to Ørsted, Greenland is the ideal location for PtX. Greenland’s autonomous Minister for Energy, Kalistat Lund, has now invited interested parties to look at two potential hydropower plants north of Nuuk in the areas of Tasersiaw and Tarsartuup Tasersua. Next year, the Government expects to carry out a procurement of a facility in each area. The construction of the projects, which are estimated to have a capacity of 600 MW and 200 MW respectively, will begin in 2027.
Hydrogen Mem-Tech secures SEK 170 million investment
Investors such as AP Ventures, Yara, Shall, Saudi Aramco and Sintef, announced that they are investing NOK 170 million in the Norwegian company Hydrogen Mem-Tech, which has developed technology to separate hydrogen from gas, combined with CO2 capture. The capital will be utilised to commercialise the company’s technology. “We are both proud and incredibly humble to have secured what will be one of the largest capital investments in a Norwegian technology company in the starting pit in recent years”, said Thomas Reinertsen, CEO of Hydrogen Mem-Tech.
Finnfoam to invest SEK 100 million in recycling plant
In order to invest in its circular economy, the insulation manufacturer Finnfoam is building a pilot plant for chemical recycling of cellular plastic, XPS and EPS insulation. The total value of the investment will amount to more than SEK 100 million. The facility, which is being built at Finnfoam’s factory area in Salo is expected to be completed in October 2022.
Luleå University discovers new way to produce low-emission fuel
A new, competitive way to produce low-emission fuel has been found at LUT University, in collaboration with the Technical University of Munich. The raw material used is by-products of the forest industry and wood, from which acetic acid is produced. Together with hydrogen, the Power-to-X technology is then able to produce ethanol for carbon-neutral transport. The tax-free cost per litre of the new fuel would amount to EUR 0.56-0.74, producing 75% less GHG emissions than gasoline.
Nel ASA publishes 1Q22 report
In 1Q22, Nel ASA reported revenue of NOK 213 million, an increase of 36% compared with 1Q21. The company’s order intake has also increased, from NOK 263 million in 1Q21 to NOK 283 million in 1Q22. At the end of 1Q22, Nel reported the highest ever order backlog of NOK 1,289 million, an increase of 19% compared with 1Q21. Furthermore, the company reported a cash balance of NOK 3,940, following a private placement during the first quarter which raised NOK 1,500 million in gross proceeds.
Azelio’s publishes 1Q22 report
In the first quarter of 2022, Azelio’s net sales amounted to SEK 323,000, up from the SEK 97,000 reported in 1Q21. However, the company had an operating loss of SEK 129,584, after a depreciation of SEK 40,231.
The company also advised that it had adopted new operating goals, stating that by the end of 2022, Azelio will focus to deliver a handful of projects to make the product "bankable", ie make it possible for customers to insure and finance projects. For 2023, the company will deliver at least 10 projects of 0.5-5 MW. In 2026, Azelio aims to deliver projects comprising at least 1 GWh of installed electricity storage capacity.
Hexicon reports loss in 1Q22
The wind power technology company Hexicon reported lower sales and increased losses during 1Q22 compared with the previous year. The company’s sales fell 51% to a total amount of SEK 5.7 million, compared with last year’s SEK 11.6 million. Operating profit resulted in a loss of SEK 19.4 million, linked to an expansion of the project portfolio, technical developments and related activities.
At the same time, Hexicon and Elia Grid International recently announced that they are entering into cooperation for the electricity grid connection of floating wind farms. Between 2023-2027, the two companies will develop concepts and projects to integrate large-scale offshore wind farms to electricity consumers on land.
Sandahls Logistik signs purchase agreement for 120 Volvo trucks
In order to become fossil-free by 2025, Sandahls Logistik has made a deal with Finnvedens Lastvagnar AB for an order of 120 Volvo trucks that run on liquefied biogas. Just over 90 of the new trucks will be delivered in 2022.
What we’re reading
- Solar rooftops, manufacturing to get boost under draft EU plan (Reuters)
- LEAK: EU Commission considering higher renewable energy target for 2030 (Euractiv)
About 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 curate the stories of most relevance to international businesspeople and policy experts from the flow of news. Mundus Nordic Green Indices summarise the meta-data from our daily coverage to enable easy tracking of trends. We supplement these with our own opinion pieces and commentary.
Powered by Notified