29 June 2022
Norwegian government launches new battery strategy. Freyr Battery gets NOK 4 billion in guarantees
Freyr Battery has secured NOK 15.7 billion in loan financing, and on the back of this, and in response to an improved market for batteries, has committed to build its first giga factory, Giga Artic, with production capacity scaled up to 29 GWh. Freyr attributes the positive move to 4 billion in loan guarantees from Export Finance Norway (Eksfin).
Giga Arctic is expected to be one of the largest and most efficient battery factories in Europe where the estimated investment per GWh installed capacity is 50% lower and production per employee over 2005 higher than for conventional lithium-ion battery plants
FREYR increases its target for installed annual production capacity to more than 200 GWh by 2030, a doubling of the company's previous ambition.
Simultaneously, Jan Christian Vestre, Minister of Trade and Industry, launched Norway's first battery strategy. He said that Norway “will mobilise as much private capital as possible for the battery investment and the state will line up with a powerful toolbox. It is about everything from clean and reasonably renewable energy, attractive business areas, education of labour, fast public processes, support for host municipalities and that we should contribute with loans, guarantees and equity.
The battery strategy is formulated as ten measures that will position Norway for development in the battery industry in the coming years. The background for the strategy is, among other things, that the demand for batteries has almost tripled since 2018, and that the global market can be up to 20 times as large over the next eight years.
And, on the same day as the battery strategy was presented, SINTEF launched a coordinated, EU-funded project IntelLiGent, which seeks to contribute to the next generation of high-voltage lithium-ion batteries for electric cars. The project changes both the chemical content of the battery and the production process, and the plan is to go from concept to full-scale production in three years with batteries that are cheaper, safer, more sustainable, give higher power, have a longer life and charge faster.
Press release, Press release, Press release, Dagens Naeringsliv
Equinor wants to transport CO₂ in pipes from Belgium to Norway: Cheaper than ships
Equinor wants to build a 1,000-kilometre-long pipe to transport CO₂ from industry in Belgium, France and the surrounding countries to the Norwegian shelf, where it can be stored in reservoirs under the seabed. The pipe will be able to carry 20 to 40 million tonnes of CO₂ per year, and serving a number of industrial customers in these countries, for example, producers of steel and cement, which have limited alternatives to fossil energy.
According to Grete Tveit, Director of low-carbon solutions at Equinor, “the pipe will go from Belgian Zeebrugge and may also have branches from other places, so we can get CO₂ from both Germany, the Netherlands and France. We have just started the investigation of this.” She says “it is too early to say what such a pipe will cost, but that pipes are much cheaper than ships. But it depends on the volume. You need large volumes to lay pipes. When you get this scaled up, the economy gets better. Then you can lay pipes, and that is maybe half the cost compared to ships, says Tveit. A final investment decision for the project is expected by 2025 and hopes to have the project complete by 2030 at the latest.
European Energy enters into hydrogen agreement with the Port of Esbjerg
European Energy and the Port of Esbjerg have reached an agreement in which European Energy will supply green hydrogen to the port. The hydrogen will be produced with electricity from European Energy's wind farm in Måde near Esbjerg and used to generate fossil-free electricity for ships in the port through fuel cells.
Liquid Wind announces plans for its second electrofuel facility, FlagshipTWO, to be established in Sundsvall
Sundsvall Energi will partner with Liquid Wind to be the host and provide carbon dioxide for the second commercial-scale electrofuel facility in Sweden. Biogenic carbon dioxide from the energy facility will be captured and combined with renewable hydrogen to generate eMethanol. The fuel is intended for the maritime industry to support the transition to carbon neutral shipping.
Neste announces SAF deal for private air charters
Neste and Victor, a company in private charter aviation, announced a collaboration “that sets a new benchmark for business aviation in the issue of sustainability”. Now, Victor members around the world can purchase Neste MY Renewable Aviation Fuel for all bookings, which reduces greenhouse gas emissions by up to 80%.
OX2 transfers Korkeakangas wind farm in Finland to Aquila Capital
OX2 is handing over the Korkeakangas wind farm in Finland to Aquila Capital, a company that invests in and manages sustainable assets, based in Hamburg, Germany. The wind farm consists of nine turbines and has a total capacity of 45 MW.
Marr Contracting in Australia to use renewable diesel from Neste
Since June 2022, Marr Contracting ("The Men From Marr's") has been using renewable diesel (HVO100) from Neste in its rocker arm crane for heavy lifting in Australia. The transition to renewables is an important step in the company's journey towards net zero emissions.
Alight acquires solar power plants from Vattenfall
Vattenfall is to divests its segment of medium-sized solar power plants in Sweden to Alight. With the acquisition, Alight is adding 15 new renewable energy facilities to its existing 50-facility portfolio, to further grow and diversify its portfolio and strengthen its leading position in solar-as-a-service in Sweden. The new assets are a mixture of solar and energy efficiency facilities located in Sweden, with a total expected annual production of over 10,000 MWh.
What we’re reading
- EU countries reach deal on climate laws after late-night talks (Reuters)
- The ministers' tug-of-war over climate legislation was won by the Commission (Blog, Swedish)
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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