12 October 2021

Finland amongst ten EU ministers supporting the need for nuclear power 

A letter was signed by ten EU ministers, claiming that nuclear power is one of the solutions for reducing emissions as well as strengthening Europe’s self-reliance. Among the ministers was Mika Lintilä, Finland’s Minister of Economic Affairs, who alludes to the rising energy costs and increased electrification of society as underlying reasons for the need of nuclear power (Industri Nyheter).

Swedish government to double climate aid by 2025

Three weeks before the COP26 summit in Glasgow, the Swedish government announced that it will double its climate aid to SEK 15 billion, by 2025. This is part of the government’s role in fulfilling the UN-target from 2009 to mobilise $100 billion annually in climate financing. Per Bolund, Minister of the Environment and Climate and Deputy Prime Minister said “Sweden's doubling of climate aid puts pressure on other countries to contribute more.” (Press release).

Norwegian budget presents new climate initiatives

In the latest state budget presented by Jan Tore Sanner, Norway’s Minister of Finance for the Solberg government, there is an increased focus in line with a green climate plan. The budget aims to facilitate the reduction of emissions of greenhouse gases, adaptation to a low-emission society and green growth. With this widespread targeting of climate issues, several green actions are highlighted in the proposal.

• CO2 taxes increased by 20%, from NOK 591 to NOK 766 per tonne.
•  A NOK 3.9 billion grant for CO2 management in 2022.
• A newly formed climate investment fund will receive NOK 1 billion annually for 5 years.
•  NOK 30 million to create a new research centre for renewable energy in the beginning of 2022.

However, the Norwegian Society for the Conservation of Nature (Norges Naturvernforbund, NNV) criticised the lack of investments in preserving the nation’s biodiversity (Press release, Abc Nyheter, Naturpress).

Skandia to put SEK 40 billion into climate investments

Skandia, the first Swedish representative to join the international Climate Investment Coalition (CIC) initiative, has extended its commitment to climate investments – by SEK 40 billion until 2030. This is to be announced under the CIC banner during the COP26 summit in Glasgow and is part of Skandia’s successively reducing investments in fossil fuels (Press release).

Svenska kraftnät making billions off of Skåne’s increasing electricity prices

The record high prices of electricity in the south of Sweden are generating billions for state-owned Svenska kraftnät (the Swedish grid operator). According to Sydsvenskan, it has already made SEK 8 billion in capacity fees, with SEK 5 billion credited to the price difference between northern and southern Sweden. The disparity between the two parts of Sweden is unsustainable and underlies a written letter by the Southern Swedish Chamber of Commerce, demanding measures to mitigate the effects that impacts customers and threatens companies’ climate transition (Sydsvenskan).

New method from KTH Royal Institute of Technology to recycle batteries

Researchers at KTH Royal Institute of Technology have developed a method to recycle valuable metals from used lithium batteries. In trials, the researchers have in some cases recycled 99% of the metals in the battery and completed the process in half of the time compared to conventional recycling methods. This is done by using weak acids such as acetic acid and citric acid instead of sulfuric acid, which is facilitated by the use of ultrasound technology in the extraction process (Svensk verkstad).    

Hexicon given patent for floating wind platform with tilted towers

The European Patent Office (EPO) has confirmed its intention to grant Hexicon’s patent for its floating wind power platform with tilted towers on the European market. The patent refers to floating wind power platforms that can accommodate two tilted turbines per platform, thus increasing the power density for a given water area according to Marcus Thor, CEO of Hexicon (Press release).

Flagship One in Örnsköldsvik submits its planning application

Flagship One, a subsidiary of Liquid Wind, has submitted an environmental permit application to build Sweden’s first large-scale production of renewable e-methanol in Örnsköldsvik. The facility has an expected price-tag of SEK 1.5 billion and enters construction phase in spring of 2022. By producing large volumes of e-methanol, a reduction of emissions in the shipping industry is expected, according to Claes Fredriksson, CEO of Liquid Wind (Dagens PS).

Advanced Soltech signs China agreement worth SEK 4.2m p.a.

Advanced Soltech’s Chinese Subsidiary, ASRE, has signed an order with Nanxiang Wanshang Trade Logistics Park Investment for the installation of a 5 MW solar power facility. The facility is planned to begin construction in 4Q21 and is expected to generate SEK 4.2 million annually during the 20-year agreement period (SEK 84 million total). With a total investment of SEK 29.7 million for the facility, ASRE wants to alleviate the electricity shortage in parts of China with solar power (Press release). 

Denmark inflation levels are at a highest since 2012

Denmark’s Consumer Price Index (CPI) rose by 2.2% in September compared to the same month last year. That is the highest annual increase of the CPI since November 2012, when it increased by 2.3%. The high price of electricity has increased by 15.2% in the last year, which is the highest annual increase in 13 years. However, even the core CPI, excluding energy and food, had an annual increase of 1.3%, which was at 1.0% last month (Euro Investor, Nordjyske).     

Quantafuel partners with NTNU to establish innovation hub

Quantafuel, the Norwegian energy company, has announced a new partnership with Norwegian University of Science and Technology’s (NTNU) Chemical Engineering department in the establishment of an innovation hub named “Chemical Conversion of Waste. The partnership revolves around the pursuit of a circular economy by developing chemical recycling of wastes to liquid fuels and chemicals, as well as technology solutions for CO2 reduction (Press release). 

Shift in Swedish electric car market

The interest in electric cars is rapidly increasing in Sweden, and a new contender has taken the lead as the most sold car brand in the country, namely the Korean brand, Kia. This change was credited in large part by the increased interest in electric cars. Another rapidly growing brand is the Chinese entrant, MG that sold 3,200 electric cars in 6 months, which makes them outshine Volvo Cars sales on the electric market. In a forecast for this year, 55,000-60,000 electric cars are to be sold in Sweden this year, and 100,000 electric cars during 2022, according to Tomas Ernberg, CEO of Hedin MG Sweden (SvD Näringsliv). 

What we’re reading

• France leads charge to label nuclear power as 'green' under EU taxonomy rules (rfi)
• U.S., EU line up over 20 more countries for global methane pact (Reuters)

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