22 June 2023
Today's Top Nordic Green News:
- Sweden’s Riksdag approves “fossil free” energy goal by 2040
- Hexicon's Joint Venture Applies for 2GW Offshore Wind Farm in Baltic Sea
- Denmark allocates DKK 1.2 billion to support South Africa's green transition
Sweden’s Riksdag approves “fossil free” energy goal by 2040
The Riksdag approved the Government's spring amendment budget on Tuesday, introducing a new energy policy objective. The goal is now to achieve 100% fossil-free energy by 2040, aiming to expand nuclear power and ensure clean and stable electricity production. The budget received support from the Tidö parties, while the opposition voted against it. Criticism for the Government’s Economic Policy has come from the Centre Party, their Spokesperson on Tuesday claiming that Sweden's electricity production is already predominantly free from fossil fuels, making the new objective redundant.
Hexicon's Joint Venture Applies for 2GW Offshore Wind Farm in Baltic Sea
Hexicon's joint venture, Freja Offshore, has applied for a 2GW offshore wind farm called Cirrus in the Baltic Sea. The wind farm, located on the southeastern coast of Sweden, has the potential to generate 10TWh of renewable energy annually, enough to power over two million households. The turbines will be bottom-mounted and positioned 50 kilometres away from the coast, ensuring they are not visible in clear weather conditions. The project aims to meet the increasing electricity demand in Sweden, reduce energy costs, create jobs, and promote economic prosperity in the region. Freja Offshore is owned by Hexicon and Norway’s Mainstream Renewable Power.
Denmark allocates DKK 1.2 billion to support South Africa's green transition
Denmark will provide DKK 1.2 billion to support South Africa's green energy sector. The Prime Minister’s office has advertised the support as contributing to "solving South Africa's current energy crisis" and will strengthen the Danish-South African Green Power Partnership established in 2022. Prime Minister Mette Frederiksen highlighted Denmark's expertise in wind power and other areas and emphasised retraining coal workers for solar and wind industries. The collaboration is aimed towards enhancing investment opportunities for Danish companies and achieving a green transition in South Africa. The funds originate from sources including the Investment Fund for Developing Countries (IFU) and Danida Sustainable Infrastructure Finance.
National Audit Office raises concerns over Sweden's fuel reduction obligation
As currently drafted, Sweden’s amendments to its law on petrol and diesel reduction raises significant concerns according to the Swedish National Audit Office’s latest report. Audit Director Peter Jörgensen has stated, "The way the Riksdag has decided, it will not be feasible to implement until 2030". In May, the Tidö parties proposed the reduction obligation on petrol and diesel to 6%, starting at the beginning of the year. Currently, the limits are set at 7.8% for petrol and 30.5% for diesel. However, the National Audit Office’s review highlighted that blending biofuels with petrol and diesel could be a cost-effective means for Sweden to achieve its climate goals. The National Audit Office has highlighted obstacles, both in terms of regulations and existing technology, for the fuel reduction obligation, warning that, “in a few years' time, it will be impractical to incorporate as much biofuel as required by the reduction obligation,”
SKF Signs Power Purchase Agreement in Spain
SKF, a Swedish ball-bearing manufacturer has signed a Virtual Power Purchase Agreement (VPPA) with energy company ENEL as part of its efforts to achieve 100% renewable electricity use within the company by 2030. The agreement is to purchase guarantees of origin for 15 years from ENEL's solar project in Spain, which will generate over 260 GWh of renewable electricity annually. By August 2024, the solar power plant will be connected to the grid. This move allows SKF to support the development of renewable energy sources and reduce greenhouse gas emissions. The VPPA agreement aligns with SKF's broader sustainability agenda, which includes reducing energy consumption, increasing the use of renewables, and minimising environmental impact. SKF's climate targets have been approved by the Science Based Targets initiative (SBTi), focusing on significant emissions reduction by 2030 and achieving net-zero emissions by 2050.
US Delegation Explores Sustainable Wood Construction in Sweden
A delegation from the US, along with colleagues from the UK, Ireland, and Japan, will visit Sweden from June 25 to 30 to study sustainable industrial wood construction. The delegation, including representatives from the US Department of Housing and Urban Development, will visit renowned wood construction projects and hold meetings with politicians, government officials, and business representatives. Sweden's expertise in industrial wood construction is seen as a potential solution to challenges such as housing shortages, climate change, and resource efficiency. Wood as a renewable material offers advantages such as sustainability, reduced climate impact, and faster construction processes. The visit aims to learn from Sweden's success and explore opportunities for increased international cooperation and export of Swedish wood construction expertise.
W3 Energy Achieves Rapid Growth in Wind Farm Management
Swedish company W3 Energy has become a prominent player in wind farm operation, management, and optimization. Between December 2021 and December 2022, W3 Energy's managed wind power capacity increased from 1,860MW to 4,300MW, representing 32% of all wind power produced in Sweden. This amount of energy can meet the annual consumption needs of approximately 1,800,000 households. With a dedicated team of 23 employees in Piteå, W3 Energy's collaborative and inclusive culture has contributed to its recent achievements.
Port of Skellefteå Secures SEK 97 Million EU Grant for Sustainable Transport
The Port of Skellefteå in Sweden has received SEK 96,860,208 from the EU Regional Fund and the Swedish Agency for Economic and Regional Growth. The investment will improve infrastructure, including a new railway track and expanded quay, enabling businesses to engage in eco-friendly trade with the European market. It supports the green transition and meets growing demand, particularly with Northvolt's presence as Europe's largest battery factory in the region.
Norway pauses All-Electric Passenger Aircraft P-Volt
The development of the all-electric passenger aircraft P-Volt for domestic routes in Norway has been paused after Italian developer Tecnam concluded that short battery life would make the project commercially unfeasible. The plane, developed in partnership with Rolls-Royce and Norwegian operator Wideroe, had been under study for three years. The research found that operators would need to replace the entire battery storage unit after only a few hundred flights, leading to increased operating costs. Despite this setback, Tecnam remains open to resuming the project when technology advancement allows. Norway aims to have electrified aircraft in domestic scheduled flights by 2030 and to reduce emissions from domestic flights by 80% by 2040.
Biogas plant invests large sum of millions: Will convert to liquefied gas
Denmark’s Grøngas will invest DKK 90 million to convert biogas production to liquefied biogas.
What we’re reading
- European Council reaches agreement on the nature restoration law (Press release)
- China and Germany agree “Climate and Transformation Dialogue” in difficult political landscape (Clean Energy Wire)
- At Paris summit, World Bank unveils debt payment pause for disaster-hit countries (Reuters)
- US to lend $9.2bn for Ford battery plants in clean energy push (Financial Times)
- Culture Wars’ Are Risking Paralysis of Europe’s Green Deal (Bloomberg)
The EU landmark green deal is at risk of being dragged into “culture wars,” said the bloc’s climate chief Frans Timmermans as he warned that plans to reach net-zero by the middle of the century risk being paralysed by political division. His comments come as the bloc faces stiff pushback by groups in parliament and member states to a set of policies designed to slash emissions by 55% this decade. Culture wars, which signify a clash of social values between different ends of the political spectrum, are increasingly on display in Europe’s political debate and seeping into policy making.
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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