15 February 20202
Mundus publishes Nordic Green Indices for January 2022
Today, Mundus has published our indices for January, tracking the total activity of business development targeting climate and dissecting it via country and technology type. Highlights included;
- January was the second most active month on record for Nordic climate business. Finland showed a significant increase in activity.
- A notable amount of progress is being reported on hydrogen, which now makes up 30% of all Nordic climate-business activity, and has doubled the levels that it was at 12 months earlier.
- Power-to-X saw 7 announcements in January, including Maersk's game-changing commitment to decarbonise its shipping by 2040, using green methanol.
- Green aviation is coming of age, especially Sustainable Aviation Fuel. This month ExxonMobil bought into Norway’s Biojet.
For more, download the report via the pop-up here
Sweden presents offshore plan for wind power
The Swedish Government has established the state sea plans for the North Sea, the Baltic Sea and the Gulf of Bothnia to guide authorities, municipalities and courts when they plan and grant permits for various activities in the sea. The hope is that the sea plans will accelerate the expansion of offshore wind power and provide guidance on how different sea areas should be used the best. The sea plans identify areas with 20-30 TWh of energy potential and the Government has further instructed the Swedish Energy Agency to point out areas for an additional 90 TWh by March 2023 to enable revised marine plans by 2024. In total, the plan identifies new offshore wind power potential of 120 TWh, slightly less than the 140 TWh of Swedish demand in 2020.
The Government is also preparing a bill for simpler permits processes for wind power and is working to look at how the municipalities can be given increased incentives in the event of establishment. As the application process looks today, companies can have their wind power plans rejected after several years. It is a positive decision, reported Svensk Vindenergi, but the level of ambition should have been higher.
[Ed: To put this into perspective, while it sounds ambitious, and to a certain extent it is, according to the Minister of Energy Khashayar Farmanbar (S), “There is a great interest in building wind power out at sea. Today, there are applications for connection with Svenska kraftnät that correspond to over 350 TWh of electricity - just for southern Sweden.”]
Wind Power News , Swedish Radio , MSN News
The Swedish Energy Agency invests SEK 113 million - most to nuclear
The Swedish Energy Agency has granted support to two innovative projects that may have an impact on future energy systems, both nationally and internationally. Swedish Modular Reactors AB har been granted just over SEK 99 million in support of demonstrating a smaller lead-cooled nuclear reactor. Solkompaniet Sverige AB has been granted SEK 14 million in support of demonstrating a smart solar park.
Agder Energi will supply Yara with 2 TWh for 10 years
Agder Energi and Yara have entered into an agreement for the delivery of hydropower to a demonstration project for the production of green hydrogen and ammonia at Yara’s factory in Porsgrunn. Agder Energy will provide Yara with an annual supply of 219 GWh.
Magnora doubles its South African portfolio
Solar energy and onshore wind has given Norwegian investor Magnor a doubling of its portfolio in South Africa. With an acquisition of 92% of the African developer AGV, Magnora has added 800 MW of solar and wind energy to the 850 MW that already made up the portfolio.
Exel Composites post strong finish to 2021
Finnish materials manufacturer, Exel Composites recently reported an increase to EUR 36.5 million in net sales during 4Q21, which is an increase of EUR 9 million compared to the same period 2020. The company’s net sales increased significantly in all customer industries, with the exception of the transportation industry, which remained at the previous year’s level. Driven by strong growth in power conductor cores, buildings and infrastructure overtook wind power as Exel’s largest customer industry in 2021.
Digital platform to accelerate fossil-free transport
Fossil-free Sweden has taken the initiative to develop a common digital platform that will collectively show where and when charging stations and filling stations for fossil-free fuels will be expanded. The digital platform, which has been granted support by the Swedish Agency for Economic and Regional Growth, will make it easier for companies and households to plan their transition to fossil-free transport. The platform will be developed in ten regions and accessible throughout the country.
ABB Turbocharging rebranded as Accelleron
ABB recently announced that its Turbocharging division, a global leader in turbochargers for construction machinery, has become the new brand Accelleron. The new Accelleron is a leader in technology and commercial prototype projects with alternative fuels such as hydrogen, methanol and ammonia, and the company plans upgrades and new technologies for net zero emissions to support the strategic direction of the business in coming years.
ABB enters into contract with Ioneer
ABB has won a major contract from the Australian company Ioneer Ltd, an emerging supplier of lithium boron. ABB will begin the work on system design and optimization of equipment packages, which include a steam turbine generator, medium and low voltage electricity distribution, power management and process automation, as well as instrumentation systems for power generation, acid and lithium drilling rigs. The aim is for ABB’s approach to help mining companies optimise capital costs and maximise productivity, sustainability and safety.
“The contract with ABB is one of the more significant delivery packages we have awarded at Rhyolite Ridge and is another step in the development of the project. ABB focuses on providing environmentally friendly technology solutions. This is in line with Ioneer’s ambition to not only produce materials needed for electric vehicles and renewable energy, but also to do so in an efficient and environmentally responsible way through reduced emissions, significantly reduced water use and a small footprint on the surface”, said Bernard Rowe, Managing Director of Ioneer.
Aker Horizons increased its book value to NOK 16.9 billion in 4Q21
The recent report by Aker Horizons states that the company’s value-adjusted equity increased to NOK 16.9 billion at the end of 2021. It is an increase of NOK 800 million from the end of 3Q21. “We took several steps in the fourth quarter to strengthen our financial position, to prepare for turbulent capital markets. Although we envisage an increased cost of capital in the public market, we experience that the private transaction market continues to be strong”, stated CEO Kristian Røkke.
Increased deficit for Hydrogenpro
Hydrogenpro had sales of NOK 11.1 million in 4Q21, up from NOK 8.2 million in 3Q21. At the same time, the bottom line ended with a loss of NOK 16.8 million, compared to NOK 11.4 million in losses in the previous quarter. The increase in turnover is primarily attributed to an electrolysis purchase order signed in 2021 with Mitsubishi.
Neste’s green solutions reduced customers emissions with 10.9 Mt of CO2
Neste’s products provide a significant reduction in greenhouse gas emissions, helping customers reduce their own product’s carbon footprint, e.g. by replacing diesel with biodiesel. In 2021, the company calculates the reduced carbon footprint of the fuel products throughout the life cycle: from the production of the raw materials to the final use of the final product, to be 10.9 million tonnes.
“As the demand for renewable products grows rapidly, driven by higher climate ambitions and supporting legislation, we are continuously expanding our capacity to produce renewable products. Our annual production capacity will increase to 4.5 million tonnes of renewable products when the expansion of our Singapore refinery starts at the end of 1Q23. In combination with our additional project with renewable aviation fuel (SAF) in Rotterdam, we expect to achieve a SAF production capacity of 1.5 million tonnes annually at the end of 2023”, said Peter Vanacker, President and CEO of Neste.
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.
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