3 February 2023
2022 a record for Finnish wind development
In Finland, 2022 was a record year for wind power construction. 2,400MW of new capacity was completed, comfortably beating the previous record from 2021, when 670MW was added. However, the pace of construction is slowing - this year the capacity is predicted to be about 1,000MW and next year about 1,300MW, says Mikkonen. The slowdown is partly due to the fact that around 600MW of capacity expected for this year was completed ahead of schedule already.
Swedfund invests in African infrastructure fund
The Swedish state fund, Swedfund, aims to reduce poverty through sustainable businesses. In December, the fund invested USD 26 million to develop energy infrastructure in Africa. The purpose of the investment is to not only support the green transition, but to also create jobs and digital infrastructure, which will in turn stimulate the African economy.
Zero emission shipping project receives EUR 15 million from EU
The EU finances the Ship-aH2oy project, which will develop a zero emission ship propulsion technology that uses green hydrogen. The green hydrogen will be stored on ships in a liquid organic hydrogen carrier (LOHC), which is a safe and efficient way to store large quantities of hydrogen. When the hydrogen is needed for fuel on the ships, it will be released to a fuel cell. Once the hydrogen is depleted, the carrier will be brought back to land for a refill, thus promoting a circular economy.
The project will receive the investment over a period of 5 years to realise the zero emission ship propulsion technology. "This shows that the EU believes LOHC is a technology that can cut emissions from shipping", says Egil Arne Skare, the Chief Project Officer.
OX2 and Ålandsbanken initiate feasibility study for large-scale hydrogen production
Swedish renewable energy developer, OX2, and Ålandsbanken plan to further the green hub in Åland by launching a project focused on the shipping segment. The green hub, called Mega Grön Hamn (Mega Green Harbour) is located at Långnäs harbour in Åland. The project says that it will act as a green node and construction logistics for individual projects, which will in turn enable business opportunities, job opportunities, a stable electricity connection in Åland and more.
The new project in the green hub is about hydrogen production which will provide fuel for the shipping industry, local traffic and industrial processes on Åland. Additionally, it is claimed that the Långnäs hub will become important to transporting hydrogen through the planned Baltic Sea Hydrogen Collector and into the European mainland.
Norwegian solar developer Scatec ends 2022 with a new loss
The Norwegian solar company Scatec will end up with a total deficit in 2022 of over NOK 1 billion. EBITDA came in at a strong NOK 786m, and even though that figure represents a NOK 64m drop against the third quarter, it's still a 15%year-over-year increase.
Despite the deficit, Scatec announced a considerable divestment to finance new investments. “We are excited to embark on our journey together and ready to seize new opportunities,” says Scatec CEO Terje Pilskog.
SaltX and SMA Mineralenter partnership with Celsa Nordic to make steel production more green
Celsa Nordic manufactures reinforcing steel with 100% recycled steel scrap. The partnership with SaltX and SMA entails implementing an electrical and climate neutral lime (calcium oxide) production, which is important for steelmaking at the mill in the Norwegian town Mo i Rana.
“We have a good relationship with SMA Mineral, which for many years has supplied lime to our process in Mo i Rana. When we had the concept for an electrified and completely climate-neutral lime production presented to us, it became clear that it is the right way forward for the plant in Mo i Rana and has a big impact on the reduction of CO2 in our scope 3 emissions.”, says Celsa Nordic’s CEO.
SaltX has previously made headway in the electrification of lime production, but is now entering a collaboration with lime producer SMA Mineral to jointly produce carbon-neutral quicklime and dolomite.
Nordiska Projekt, Press Release
Swedish industry group acquires large piston manufacturer
Swedish industry group, Koncentra Group, acquires Kolbenschmidt Large Bore Pistons (KS LBP) from the German industrial group Rheinmetall. KS LBP manufactures pistons for motors in ships, energy plants, machines and for other applications that require large engines with pistons. It contributes to the sustainable transport sector because pistons are important components in engines adapted to sustainably produced fuels such as hydrogen, synthetic methanol and ammonia. Especially for the DualFuel-motor, where different fuels are combined and a carbon reduction of 85% occurs. KS LBP’s piston jacket allows pistons adapted to different fuels to be mounted together. This means that ships can have greater flexibility when it comes to the type of fuel they use. KS LBP’s piston jacket will also be relevant in balancing power grids.
The acquisition will increase the groups' sales to SEK 3000 million. “KS LBP is a world leader in developing and manufacturing a critical component in a large and complex technical system. It is a key component with very large market potential," says Dan Broström, CEO of Koncentra Group.
HydRe Oy, which is planning a hydrogen filling station in Jyväskylä, has been sold to Norway
Norwegian hydrogen developer Norwegian Hydrogen AS has bought Finnish hydrogen refuelling company HydRe Oy, with an undisclosed purchase price. HydRe focuses on building hydrogen refuelling stations for heavy traffic in Finland and the Baltics. The acquisition will speed up the development of the hydrogen refuelling network in Finland and the Baltics.
The company has announced a cooperation with the Japanese conglomerate Mitsui and the American hydrogen company FirstElement Fuel to meet their plan to introduce hydrogen filling stations throughout the Nordic countries. Norwegian Hydrogen’s goal is to become the leading hydrogen refuelling company in the Nordics. In a press release, the company's CEO, Per Øyvind Voie said “We will be the leading company offering hydrogen refuelling for heavy traffic in the Nordic countries.”
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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