2022-06-23 19:26News

23 June 2022

Mundus Nordic Green News

Norway and the EU agree to strengthen energy cooperation

Norway and the EU are strengthening cooperation in the field of energy, according to Norway’s Minister of Petroleum and Energy Terje Aasland and the EU Commission's Vice President Frans Timmermans. Terje Aasland commented, “We have had a good and constructive meeting, where we agreed to strengthen the close energy cooperation between Norway and the EU. Russia's invasion of Ukraine has necessitated even closer cooperation in the field of energy. The work to achieve the climate goals also means that the energy transition is faster than before, and then it is extra important with good cooperation.”

In the meeting between Aasland and Timmermans, several parts of the energy collaboration were discussed, both hydrogen, carbon capture and storage and offshore wind. They agree to work more closely together on the possibilities for increased gas deliveries in the short and long term.   

Statement, Press release

Norway estimates NOK 60 billion required to kickstart green industry

The Norwegian state should provide NOK 60 billion in loans and guarantees until 2025 to accelerate new green industries such as offshore wind, hydrogen and battery production, according to the Government in its new plan for climate-friendly industry. The government has identified seven priority areas: offshore wind, hydrogen, batteries, maritime industry, CO2 management, and forestry and bioeconomy. In addition, the process industry, such as aluminium plants, will be helped to reduce emissions. The government says that it will take some of the financial risk to make it easier for private individuals to invest in projects in these areas.

According to the Minister of Trade and Industry Jan Christian Vestre “The need for such government risk mitigation is estimated at about NOK 60 billion until 2025. The business community can be confident that we will stand up and that we will equip the various support schemes to meet the need for government loans, guarantees and equity.”


Enova supports hydrogen projects in the maritime sector with NOK 1.12 billion

A number of hydrogen and ammonia vessels and production facilities for hydrogen will receive a total of NOK 1.12 billion in support from state-owned Enova.

The billion support is distributed to five production plants for renewable hydrogen, which will receive NOK 669 million and seven hydrogen- and ammonia-powered vessels, receiving NOK 451 million

Enova says that the production hubs will have a capacity to supply hydrogen to between 35 and 40 vessels. Amongst the players receiving support is Everfuel, which together with Greenstat will receive NOK 148 million to establish Hydrogen Hub Agder.

Press release, E24, DN Investor

Gasgrid Finland to develop a national hydrogen network

Gasgrid Finland's Hydrogen network subsidiary is to build an infrastructure for hydrogen transmission. Hydrogen pipelines will be built in three locations. A 15km pilot project will be launched in south-eastern Finland between Imatra and Joutseno. Other pipelines to the west coast and in Southwest Finland will be promoted in 2023. Olgr Sipilä, CEO of Gasgrid Finland, said that the construction of the West Coast pipelines and their permitting processes will take closer to seven years, and will be commissioned in the 2030s.

According to Gasgrid Finland, due to recent changes in the operating environment, the tightened energy and security policy situation and the goals of the EU's REPower EU plan to improve Europe's energy self-sufficiency, it is necessary to develop new Finnish and cross-border energy infrastructure even faster. In addition, Finland's very significant renewable energy resources can enable the emergence and development of new industries based on competitive electricity in Finland, also creating new export and production potential.

Although Gasgrid Finland is a state-owned company, the construction of the hydrogen network does not currently require funding from the state. "The company will implement the new subsidiary project with its own cash flow and equity," according to the Minister of Finance Annika Saarikko. In the future, however, the state may finance the company, but it says that it is not going to get involved in hydrogen production. According to Saarikko, the infrastructure project is part of security of supply, so it is desired to keep the pipeline networks in the hands of the state. Long-term the goal is to strengthen energy self-sufficiency and make Finland an energy export country.

Press release, Helsingin Sanomat

Wind power accelerating Finland's green transition

According to new reports, Finland is rapidly decoupling from fossil energy and energy dependence, and wind power is becoming the most important form of electricity generation. The efficiencies and budgets of wind power projects are growing, and economies of scale allow for leaps and bounds.

Finland has the highest number of wind farms under construction in Europe. In 2022, almost 350 wind power plants will be completed, which is twice as many as in the previous year, according to the Wind Power Association, with total capacity of the projects of 55GW, which is 34 times the capacity of Finland’s newest nuclear reactor.

According to Statistics Finland, wind power generated 9.4% of Finland's total electricity consumption in 2021, but the share will already rise to 15%, and according to the Wind Power Association's forecast, a quarter of electricity consumption will be covered by wind power in 2025 at the latest.


Nordic energy group acquires Norsk Bioenergi AS

Stockholm-based Solör Bioenergy Group has acquired Norsk Bioenergi AS of Norway. Solör takes over 39 biofuel plants and the energy supply to a number of local communities and contracts with several national customers.

Solör describes itself as a leading player in renewable energy, producing wood-based bioenergy for the public and private sector. It has more than 465,000 users, produces approx. 2.5 TWh and has been established in 226 locations, mainly in Norway and Sweden.

Tekniske Nyheter

What we’re reading
  • The Green Brief: when to call a crisis a crisis (Euractiv)
  • IPCC scientist: Europe can ‘triple’ biomass production while strengthening its green goals (Euractiv)

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.