16 June 2023

Today's Top Nordic Green News:

• Neste to invest in liquid plastic waste upgrade facilities at Borgå refinery

Neste to invest in liquid plastic waste upgrade facilities at Borgå refinery

Neste has announced its decision to invest EUR 111 million in constructing upgrade facilities for liquid plastic waste at its refinery in Borgå, Finland. The investment aims to scale up chemical recycling and enable the conversion of 150,000 tons of liquid plastic waste into high-quality raw material for new plastics annually. This project, known as PULSE, has received a grant of EUR 135 million from the EU's Innovation Fund and is part of Neste's efforts to promote a circular economy. The upgraded liquid plastic waste will replace a portion of the fossil resources processed at the Borgå refinery, contributing to sustainability goals. The construction is scheduled to begin in 2023, and the ultimate goal is to reach a total capacity of 400,000 tons per year.

Press Release, Press Release

Swedish Energy Agency empowered to support hydrogen projects through IPCEI

The Swedish Government has made amendments to the Industriklivet regulation, allowing the Swedish Energy Agency to provide support for Important Projects of Common Interest (IPCEI) focused on hydrogen. The changes ensure that the Energy Agency can allocate funds to IPCEI projects and projects with other state aid approvals. The government aims to support innovation and technology development that leads to reduced emissions from industry, strengthening Sweden's competitiveness and creating new job opportunities. Additionally, a new condition is introduced to limit individual project support to no more than 60% of the available authorization framework. The government plans to increase investments in Industriklivet to enable support for projects with significant emission reductions.

Press Release

Challenges at Norwegian CCS projects raise doubts on technology's viability

Problems at two long-running carbon capture and storage (CCS) projects in Norway, Sleipner and Snøhvit, are raising concerns about the technology's viability. The projects, considered success stories, have faced challenges such as unexpected migration of carbon dioxide and reduced storage capacity. Geology uncertainties and the behaviour of injected CO2 pose risks to the effectiveness of CCS. The projects highlight the need for continuous monitoring, extensive backup plans and financial resources. The research suggests that governments must have regulatory oversight over storage sites and be prepared for long-term monitoring even after sites are closed. The study also questions the technical feasibility, regulatory strength and long-term commitment required for safe carbon sequestration. Additionally, some argue that the acceptance of CCS as a solution could lead to new fossil fuel projects and potentially lock in additional carbon dioxide emissions.

RenewEconomy

Swedish Mine Storage plans energy storage facility in closed quarry for grid stabilisation

Mine Storage, a Swedish company, has obtained land rights for an energy storage facility in Vånga, Skåne, utilising a closed quarry and a nearby lake. The proposed pumped storage plant, with a capacity of 80 MWh, would enable the storage and release of water multiple times per day, contributing valuable grid balancing services and integrating with local solar and wind power generation. The company aims to address the increasing demand for electricity and support the transition to a stable power grid amidst significant changes in Swedish energy consumption.

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What we’re reading

• UN chief attacks oil and gas industry ‘planet wreckers’ over fossil fuel expansion (Financial Times)
• European gas prices double in 10 days as traders remain on the edge (Financial Times)
• Bonn climate talks at risk of collapse, after 7-day agenda debate (Climate Home News)

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