13 June 2023

Today's Top Nordic Green News:

• Swedish Government to fasten pace of energy projects 
• AP Pension invests €75m into 1GT fund
• Danish start-up collaborates with Indonesian SOEs to test nuclear ammonia plant

Swedish Government to fasten pace of energy projects 

Yesterday, the Swedish Government held a press briefing to announce an investigation on how to speed up environmental permissions for the energy sector, including for the establishment of wind power farms, new electricity networks, mines, as well as for other public infrastructure. Ebba Busch, the Minister for Climate and Industry underlined that the business community felt strongly about the need for quicker permits to be issued than so far, when long state processes have led to investments being cancelled.

DN

AP Pension invests €75m into 1GT fund

Danish pension fund AP Pension has invested in the Morgan Stanley 1 Gigaton fund, which aims to remove one gigaton of CO2e emissions from the Earth’s atmosphere by mid-century. 1GT is focused on investments in growth-stage companies that will seek to collectively avoid or remove 1 bln tonnes from the date of investment through 2050. The private equity fund is focused on investments in companies that aim to reduce carbon emissions in sectors such as sustainable food and agriculture, the circular economy, energy, and transport. Citywire Selector last month reported that Morgan Stanley had raised $500 mln in commitments from European investors for the ambitious Article 9 strategy. AP Pension is an independent pension company and currently has around €20 bln in assets. 

Citywire, Pensions&Investments

Vattenfall plans for new hydropower projects in Sweden after 12 years

Vattenfall is planning to build new hydropower projects in Sweden after more than twelve years. The company aims to invest in four locations with existing hydropower, potentially adding a total capacity of 720 MW. These projects, if approved, will contribute to meeting the increasing demand for fossil-free electricity and help achieve climate goals. The planned hydropower stations will act as green batteries, enabling greater integration of wind and solar power into the electricity system. Feasibility studies have already begun, and investment decisions are expected in the coming years. The need for electricity is growing as the transition and electrification progress, making hydropower crucial for balancing the electricity system and storing energy when other renewable sources are less available.

svenskleverantorstidning

Danish start-up collaborates with Indonesian SOEs to test nuclear ammonia plant

Copenhagen Atomics, a Danish start-up, has formed a consortium with two Indonesian state-owned enterprises (SOEs) to develop a nuclear-powered ammonia plant in Indonesia. The USD 4 billion project aims to produce low-carbon ammonia using next-generation modular nuclear reactors, making it one of the largest low-carbon ammonia initiatives proposed to date. The plant's expected cost-competitiveness is attributed to Copenhagen Atomics' thorium molten salt reactors, which can generate significantly more energy from mined materials compared to traditional reactors. The consortium's collaboration with Indonesian SOEs provides economic support and enhances the project's potential for success. Possible uses for the ammonia include fertiliser manufacture and a back-up source od energy. The partners are currently in the early stages of regulatory investigations, with the goal of starting operations in 2028.

fdiintelligence

OCI Global fuels first ever green methanol powered container vessel with Maersk

OCI Global announced it is fuelling the first ever green methanol-powered container ship in a new partnership with shipping company AP Moller-Maersk. In a press release, OCI said it will provide ISCC certified biomethanol to power the maiden voyage of Maersk's first dual-fuelled container ship, in a pioneering step towards the decarbonisation of global shipping. The vessel leaves South Korea for its maiden voyage this summer, sailing along one of the world's busiest shipping routes to Northern Europe via the Suez Canal.

Press release

Boden rejects Vattenfall's wind power plans 

The municipal board of Boden has unanimously rejected Vattenfall's wind power plans for the Storlandet project area. The proposed project involves setting up 373 wind turbines on both sides of the municipal border between Boden and Gällivare. However, the plans have faced strong local protests, and the municipality of Boden believes that the establishment of the wind turbines could have a significant negative impact on one of its growth areas.

SverigesRadio

Finland offers unique bio-based innovations for plastic-free packaging

Finland is at the forefront of providing bio-based alternatives to traditional plastic packaging, in response to the growing global demand for sustainable packaging solutions. With increasing pressure to reduce the use of fossil-based materials, Finland offers a diverse range of bio- and waste-based products that can replace plastic packaging. The country's expertise in certified forestry resources, sustainable raw materials and advanced technologies enables the production of innovative and high-quality packaging materials. Finland's sustainable packaging solutions are based on close collaboration between businesses and the public sector, and the country's extensive forests and wood-based industries contribute to its competitive advantage in the field. As consumer preferences shift towards more eco-friendly options, the demand for Finland's innovative and sustainable packaging solutions is expected to surpass traditional plastic packaging in the near future.

Press Release

What we’re reading

• France seeks to rally support for emissions levy on shipping (Financial Times)

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