On the current trajectory, the world is heading for an energy crisis within a few years. Once demand recovers from the pandemic, supply shortages will emerge in energy markets, making energy more expensive, and for some, hard to obtain. Why? Because under current policies, this is going to happen as project financing becomes harder to get for both fossil and clean technologies. Our latest blog explains.
Norsk Hydro's new hydrogen company and Denmark’s Everfuel have entered into a letter of intent to collaborate on hydrogen supply on an industrial scale. After the signing of the letter of intent today, the two companies will develop a framework for coordinated development, operation and optimization of hydrogen electrolysers based on renewable energy in Europe. The venture will, among other things, enable the switch from gas to hydrogen at several of Hydro's own aluminium refineries, as well as develop and serve an external market in the transport sector. (press release)
Green Hydrogen Systems has won its largest agreement to date and will supply electrolysis plants for a new project. Green Hydrogen Systems, which is preparing an IPO, has made a framework agreement with France's Lhyfe and Danish Eurowind Energy to supply plants with a power of 24 MW, of which the first stage will be ready by the end of 2022. The large-scale production and storage of green hydrogen from solar and wind produced at GreenLab Skive will partly be processed into green methanol for use in the transport sector and partly used directly as a green, zero-emission fuel for heavy transport. (press release)
With a global reputation for its expertise in icebreakers and ice-going vessels, cruise ships, offshore solutions and port technology, the Finnish maritime industry is taking a collaborative approach to innovating and developing solutions to achieve compliance. Led by the University of Vaasa, the 15 million-euro Clean Propulsion Technologies project brings together six research organisations and nine companies, including Wärtsilä, to bring new powertrain technologies for clean and efficient marine and off-road transport from the research phase to real-world application. The project is looking for significant results in developing a groundbreaking medium-speed compression ignition engine and a high-speed hydrogen-fuelled engine concept. (Good News Finland)
Sweden will provide SEK 20 million in support of the NDC Partnership. The support will contribute to the work of developing countries in systematically integrating their commitments into the Paris Agreement into their national climate plans. Progressive climate commitments in line with the Paris Agreement and Agenda 2030 ensure successful results at the UN climate conference in Glasgow in November. (press release)
Furthermore, Sweden is increasing support for the protection of biodiversity in the sea and climate adaptation in Africa, through a contribution of SEK 30 million in support of the Blue Action Fund. (press release)
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 clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.