2021-11-26 16:55News

26 November 2021

Mundus Nordic Green News

Escalating tension over electricity transmission between Sweden and Norway

Further to reporting in Nordic Green News on November 23, Sweden is receiving criticism by Norway, Finland, and Denmark following Sweden’s restrictions of electricity transmission which does not adhere with EU regulations – where at least 70% of a country’s grid capacity is to be traded between countries. According to Erik Ek, Strategic Operations Manager at Svenska Kraftnät (Sweden’s grid operator), changed electricity mixes and closure of nuclear power plants in Ringhals result in reduced room for transmitting electricity abroad. This has evoked strong reactions from Finnish and Danish energy authorities that consider Svenska Kraftnät’s application for exemption to EU-regulations a continued offense to already restricted electricity transmissions. However, Norway took action as Statnett, Svenska kraftnät’s Norwegian counterpart, announced in a press release that it will reciprocate the measure by restricting transmissions from the south of Norway to the west of Sweden – “It falls natural to act in the same way as our Swedish counterpart to ensure symmetry and balance in our cooperation,” said Hilde Tonne, CEO of Statnett (DN).  

Echandia receives E-prize for maritime electrification: Tesla of shipping

Echandia has received the E-prize, presented by Dagens industri, Eon and Aktuell Hållbarhet within the category of “Sustainable transportation”, for its efforts in electrifying maritime transportation – expected to be a SEK 90 billion market in a few years. Companies such as Candela and Chargenode competed for the prestigious prize which targets companies operating within energy- and climate transitions. The jury’s underlying motivation for the prize included a comparison with Tesla, but for heavy shipping based on its powerful battery technology. Echandia’s speciality lies with its proprietary LTO-battery (Lithium-Titanate) solutions, which are optimal for heavy duty use in the shipping industry (Di).

Eurowind Energy 1 GW joint venture: Solar-, wind, and PtX projects

Eurowind Energy and Renalfa AD, a Bulgarian investment group, have established a joint venture company, Eura Energy, which has a portfolio of solar-, wind, and Power-to-X projects with a total capacity exceeding 1 GW. Eurowind Energy has already established a smaller 5 MW solar park in Bulgaria. Jens Rasmussen, CEO of Eurowind Energy, views the country as an interesting market as it needs more electricity in its green transition. The Collaboration with Renalfa AD, which invests in renewable energy and e-mobility, and Eurowind’s subsidiary, Solarpro, Rasmussen is confident that the joint venture is well-positioned to enter the Bulgarian market (Energy Supply).

Exeger to build new solar facility in Stockholm

Exeger plans to build a new facility in Kista, Stockholm with an annual production capacity of 2.5 million square metres of solar cells. The company is expecting to raise circa SEK 700 million in capital and double the number of employees from 200 to 400 within two years. In five years’ time, Exeger expects to be a very profitable company with a positive impact globally, according to Giovanni Fili, the CEO of Exeger (Börsvärlden).

Nilar seeking new finance

Nilar, a supplier of batteries and manufacturer of energy storage systems, is looking to raise investment. Recently, the company reported issues with its supply of materials and quality issues in its batteries, resulting in unreached sales targets, mass layoffs and a 90% share-drop since listing. However, Erik Oldmark, CEO of Nilar, said that there are stakeholders willing to re-invest. Additionally, Nilar was granted a SEK 482 million loan from the European Investment Bank (EIB) – pre-conditioned by Nilar’s ability to present better figures (Börsvärlden).

Bank of Åland and OX2 plan wind park

The Bank of Åland and OX2, the Swedish wind company, have signed a Letter of Intent (LoI) for the collaboration on the development of a large offshore wind project south of Åland. The wind park comprising 250 wind turbines is expected to have a production capacity of 20 TWh annually – but the project, named Noatun, is still in its infancy. It may take 5 to 10 years before the wind turbines are put in operation, as the project planning alone takes 3 to 5 years according to Tom Pettersson, Managing Director of the Bank of Åland Fund Company. The project, to be developed by OX2, is looking for Swedish and Finnish investors and is expected to need 3-5 main investors (HBL).

Nel shares soar following Ovako-deal

Following the EUR 11 million purchase deal for a 20 MW electrolyser from Ovako covered by Nordic Green News yesterday, Nel ASA has seen its shares soar by 10% on the Oslo exchange. Nel is expected to deliver the equipment at the end of 2022 to Ovako’s plant in Hofors, with the first hydrogen production expected in 2023. Although Nel's shares rose by 10% on Thursday, its volatile share is still down 35% at the start of 2021 (Di).

The Swedish Energy Agency presents national fossil-free hydrogen strategy

The Swedish Energy Agency has presented a proposal for a national fossil-free hydrogen strategy, e-fuels, and ammonia to the government, including measures aimed at facilitating the development of fossil-free hydrogen production using electrolysis. The Swedish government tasked the agency to analyse and quantify the potential for increased production, storage, transportation and use of hydrogen, e-fuels and ammonia in different Swedish industries as well as explore opportunities for collaboration with other countries and actors across Europe. To this end, the presented national strategy included proposals of measures within several areas.

  • Economic incentives.
  • Research, innovation, and supply of competent workforce.
  • Development of regulatory frameworks.
  • Collaboration for a developed value chain.

The government will now take part of the proposed national strategy and prepare the measures in the government offices (Press release).

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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.