18 October 2021

Sweden to invest SEK 170 million in African solar initiative

Sweden’s SEK 170 million investment will help finance solar power in the Sahel Region, south of the Sahara Desert, as a part of the African Development Bank Group (AfDB) “Desert to Power” initiative that aims to provide 250 million people in the region with access to renewable energy. The project is expected to cost SEK 8.3 billion and is a concrete example of how climate funding can be used for reducing poverty and supporting a global green transition, according to Per Olsson Fridh, the Minister for International Development Cooperation. Sweden’s investment will be delivered over two years, followed by future investment guarantees by Sida, Sweden’s government agency for development cooperation (Nyteknik).

Over 1,200 wind turbines stopped in Sweden by municipal vetoes

1,223 wind turbines have been stopped by municipal vetoes in Sweden between 2014 and 2020 – 21% of the total applications. This challenges Sweden’s plans, given that the number of wind farms needs to double if Sweden is to reach 100% renewable energy production by 2040. Municipalities in Sweden are resisting, using their right to veto the establishment of wind farms, referring to failed energy politics in Sweden, which they refuse to be responsible for. For instance, Trelleborg would rather focus on tourism than ruining their 35km coast according to Mikael Rubin (M), Chairman of the Municipal Board in Trelleborg (Nyheter idag).

Ore needed for increased EV production: Swedish government reviews Minerals Act

The Swedish government intends to review the Minerals Act (Sw: Minerallagen), in order to potentially open up more mines in Sweden. Metal ores are necessary for the manufacturing of Electric Vehicles (EV), which require additional resources in the production process, which according to Ibrahim Baylan (S), Minister for Business, Industry, and Innovation, should be sourced within Sweden. Additionally, in a recent forecast by Svemin, the Swedish Association of Mines, Minerals and Metal Producers, a sixfold increase of metals and minerals is expected by 2050, with recycling forecast to account for 15-20% of the total need (SVT).

NEVS, Evergrande’s Swedish electric vehicle unit, in sale talks

China Evergrande Group’s Swedish electric vehicle unit, National Electric Vehicle Sweden AB (NEVS), is in sale talks with venture capital firms and industrial partners, as its Chinese parent company is struggling financially. NEVS is discussing potential sale or financing mainly with European and U.S. firms that have the same direction, according to Stefan Tilk, Chief Executive of NEVS. In stock exchange filings, Evergrande NEV disclosed that it may struggle with employee salaries and cover other expenses (Press release).

Northvolt and Cinis Fertilizer sign agreement for waste management

Cleantech-company Cinis Fertilizer has signed an agreement with Northvolt to manage its waste sodium sulfate to produce sustainable and circular potassium sulfate fertilizer. Cinis Fertilizer’s will use its patented technology to produce fossil-free potassium sulfate fertilizer from battery producers’ residual products instead of conventional production methods that include high-emitting carbon processes. The company has assigned several new board members with heavy actors, such as Anna Kinberg Batra, in their ambition to be listed on the stock exchange by the spring of 2022 according to Jakob Liedberg, CEO of Cinis Fertilizer and Roger Johansson, Chairman of the Board at Cinis Fertilizer (Press release).

Ineos to build green hydrogen facilities in Norway

Ineos, Europe's largest hydrogen producer, will invest EUR 2.3 billion in electrolysis facilities aimed at producing fossil-free green hydrogen in Europe. The first facilities will be built in Norway, Germany, and Belgium the coming decade, followed by plans to build facilities in the United Kingdom and France, according to a press release (Press release).

Equinor invests $A9 million in Australian solar- and hydro-storage company

Equinor has invested $A9 million in RayGen Resources, the Australian renewable energy storage company, in the company’s latest investment round. Raygen’s solar solution for long-duration energy storage combines the generation of electricity and heat from sunlight with an electro-thermal storage cycle. The investment will be used to finance a 50MWh flagship project, as well as a 100 MW manufacturing line for their proprietary photovoltaic receivers. Equinor’s investment also places them on RayGen’s board of directors to help the company with their strategic direction (Renew Economy).

Electricity prices expected to fluctuate heavily during Norwegian winter

Electricity prices in Oslo and Kristiansand, Norway, reached a record spot price for this year (NOK 2.50 kWh) – and are expected to fluctuate to new record levels during the winter, according to Tor Reier Lilleholt, Chief Analyst at Volue Insight. The fluctuations are primarily a result of lower wind speeds, and continuous low levels in the water reservoirs. Additionally, the spike at certain hours of the day portrays an increased consumption pattern by Norwegian consumers due to colder temperatures in the Nordic countries. Norway is also experiencing issues with the transmission of electricity across the country, where electricity prices were ten times higher in the south of Norway than the middle of Norway, which according to Statnett relates to their inability to transmit sufficient electricity to where it is needed (E24, Dinside, Dagens Næringsliv).

Equinor’s offshore NY wind farm pushed to 2026

Empire Wind, a joint venture between a subsidiary of Norwegian energy company Equinor and BP Energy, has pushed forward its completion date for the 816 MW offshore wind farm by 18 months, to the end of 2026. The Empire Wind partners cited the ongoing regulatory permitting process and complexity of offshore construction for the delay. The delay is requested due to an agreement with the New York Independent System Operator which requires the wind farm project to generate electricity for the New York market by June 14, 2025, which Empire Wind already has stated is impossible (Utility Dive).

Spike in sales of rechargeable cars in Sweden: Increased petrol costs is a contributing factor

More than half of all new Swedish car registrations in September were rechargeable or Electric Vehicles (EV), according to Jessica Alenius, Vice President of the automobile industry organisation Bil Sweden. The rapidly rising price of petrol in Sweden is clearly a driving factor for the increased share of rechargeable and EV car sales, alluding to the increased operating costs of petrol vehicles, she continues. Thus, it is imperative to expand the charging point network to meet the growing demand of EV’s. 

What we’re reading

• Xi Jinping expected to snub UK summit on climate crisis (The Times)
• PRE-COP26 CHAIRS’ SUMMARY (UNFCCC)
• Queen voices irritation at leaders flip-flopping on climate summit (The New Daily)
• UK to put nuclear power at heart of net zero emissions strategy (Financial Times)
• How green champion Sweden could end up exporting its carbon sins (Reuters)

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