2021-11-23 17:49News

23 November 2021

Mundus Nordic Green News

Finland very unhappy with Swedish grid operator restrictions

Sweden's grid operator, Svensk kraftnät and Finland's Energy Authority are eyeballing each other, following Sweden’s restrictions of electricity transmission which do not adhere with EU regulations – where at least 70% of a country’s grid capacity is to be traded between countries. The restrictions on electricity transmission that underlies increased electricity has evoked strong reactions from Finland’s Energy Authority that considers Svenska Kraftnät’s application for exemption to EU-regulations a continued offense to already restricted electricity transmission. According to Erik Ek, Strategic Operations Manager at Svenska Kraftnät, changed electricity mixes and closure of nuclear power plants in Ringhals result in reduced room for transmitting electricity abroad (SvD).

Alfa Laval and the Long Duration Energy Storage Council publishes first report

Today, Alfa Laval and the Long Duration Energy Storage (LDES) Council have published their first report regarding energy storage technologies and in which way energy storage can facilitate net-zero electricity supply by 2040. LDES is a cost-efficient method of storing energy from renewable energy sources and making energy available on demand. The CEO-led organisation, uniting energy companies, investors, and technology suppliers, was announced at the COP26 summit and aims to accelerate the replacement of fossil-fuel power with carbon neutral alternatives. The report concludes that 85-1440 TWh LDES (>8 hours) is required to facilitate a net-zero emissions power grid – eliminating between 1.5 to 2.3 Gt of CO2. Additionally, the report also indicates a surge of LDES solutions following circa $3 billion investments in LDES technology companies in the last 5 years. Following the COP26 summit, several commitments and high ambition levels were made towards the organisation – although the implementation of LDES technology bears uncertainties. To this end, the LDES Council’s report highlights measures to realise these commitments according to Thomas Møller, President of the Energy Division at Alfa Laval (Press release).

Maersk issues green bond to fund green methanol vessels

Maersk has successfully issued its first green bond to fund the build of vessels operating on carbon neutral methanol by 2023 and 2024. The 10-year, EUR 500 million bond falls under the umbrella of Maersk’s Green Finance Framework which is designed to allow the company to issue a variety of sustainable financing instruments such as bonds, loans, and project financing. With this green bond, Maersk aims to diversify its investor base and contribute to the achievement of the UN Sustainable Development Goals (SDGs), according to Patrick Jany, CFO at A.P. Moller – Maersk (Press release).

Nilar mass layoffs: “Need to temporarily curb operations”

Nilar International AB’s subsidiary, Nilar AB, announced two notices of dismissal in Gävle and Täby affecting 110 employees – almost 40% of the 276 employees, including hired personnel. The issued notices follow major difficulties with purchasing electronic components and problems with product stability which require Nilar AB to temporarily curb operations. Negotiations with trade unions are expected to initiate. Nilar AB presented SEK 5.4 million in turnover during 3Q21 (SEK 7.5 million 3Q20) and has seen its shares drop by 86% since listing on the First North in April 2021 (Press release, DI).

Ferroamp and Assemblin El sign collaboration agreement

Ferroamp, an electrical company with focus on energy optimisation in real estate, has signed a collaboration agreement with Assemblin El, a subsidiary of the Nordic end-to-end installation- and service group Assemblin. Under the nation-wide collaboration agreement, Assemblin El will install, commission, and service energy optimisation products. Among these products is Ferroamp’s EnergyHub system which integrates solar power, energy storage and intelligent control- and monitoring features to provide property owners with the ability to optimise their energy consumption (Press release, Nordiska projekt).

Posten Norge implement new climate targets in line with Paris Agreement

Posten Norge (En: Norwegian Post) has adapted a new climate- and environment strategy in line with the Paris Agreement – targeting a reduction of its GHG emissions by 50% by 2030 compared to 2012. The climate target has now been approved by the Scientific Based Targets initiative (SBTi) and will be achieved by purchasing vehicles that run on renewable energy sources within cities by 2022, and outside of cities by 2023. Additionally, circa 80% of Posten Norge’s own vehicles are to be fossil-free by 2030 (Transport & Logistik). 

Neste tests green hydrogen production in the Netherlands

Neste has entered the execution phase of its MultiPHLY project for the production of green hydrogen at its refinery in Rotterdam, in the Netherlands. The project is conducted with partners in the MultiPLHY project which involves several high-level actors in Power-to-X technology, such as Sunfire, Paul Wurth and ENGIE. The aim of the project is to introduce the first multi-megawatt (circa 2.4 MW) high-temperature electrolyser system. The new electrolyser system enables the production of green hydrogen with a significantly reduced need of electricity during the production phase (Press release). 

What we’re reading
  • Nigeria commits to annual carbon budgets to reach net zero under climate law (ClimateHomeNews)
  • Eurozone banks told to do more to tackle climate change risks (Financial Times)

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 clip 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.