2022-03-03 11:24News

3 March 2022

Mundus Nordic Green News

Neste to establish a joint venture for production of renewable fuels in the United States with Marathon Petroleum

Neste Corporation has signed definitive agreements for the establishment of a 50/50 joint venture with US-based Marathon Petroleum. The JV will produce renewable diesel following a conversion project of Marathon's refinery in Martinez, California. Neste’s total investment will amount to approximately EUR 0.9 billion (USD 1.0 billion), inclusive of half of the total project development costs projected through the completion of the project.

Press release

Aker company receives new offshore wind license in South Korea

Aker Offshore Wind and Ocean Winds have reported that their jointly owned company Korea Floating Wind has received a license (Electric Business License) for a floating offshore wind facility with a capacity of 450 MW in South Korea.


Seaway 7 expects 2022 revenue of around $ 1 billion

Offshore wind company Seaway 7 had an EBITDA of $30 million in the fourth quarter, compared to $11 million in the same period last year, according to its quarterly report. Turnover was $326 million in the quarter, compared to  234 million in the same period last year.


What we’re reading
  • LEAK: EU drafts plan to ditch Russian gas (Euractiv)
  • Germany fast-tracks shift to 100 pct renewables as EU energy crisis deepens (RenewEconomy)

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.