30 March 2022

Aker Horizons announces merger plans with Aker Clean Hydrogen and Aker Offshore Wind 

Aker Horizon announced plans to merge with Aker Clen Hydrogen and Aker Offshore Wind which would result in both companies becoming privately held subsidiaries of Aker Horizons. The merger is said to strengthen Aker Horizons’ capacity to “accelerate the energy transition and maximise impact and value creation”. 

The proposed merger with Aker Offshore wind is supposed to be in synergy with Aker Horizon’s 2021 acquisition of Mainstream Renewable Powers, in creating a both financially and industrially stronger renewable energy developer. Additionally, it is supposed to “accelerate the development of large-scale hybrid decarbonization projects, integrating hydrogen production with downstream applications such as green iron”. 

Following the announcement the share price of Aker Clean Hydrogen traded up +11%, Aker offshore wind up +1.5% and Aker Horizon down  -0.7%. 

Press release

Vestas secures a 100MW order in Vietnam 

Vestas announced securing an order of 100 MW in Vietnam. The order covers both supply, installation and commissioning of the wind turbines, as well as a 15 year Output Management Service Agreement to ensure optimised and long term performance of the wind farm. In detail the order includes: 24 Vestas V150-4.2 MW with a number delivered 4.0 MW operating mode and a hub height of 105m. Commissioning of the wind farm is planned for 4Q22. 

OX2 picks GE Renewable Energy to equip a 146-MW Swedish windpark

OX2, a Stockholm based firm working with renewable development, has contracted GE Renewable Energy. The deal regards OX2 Klevberg wind park project in central Sweden, and the order means GE will supply 24 units of 6.1 - MW turbines from the Cypress onshore wind plattform, as well as a 35 year service contract. 

The Klevberg project will be built in Ange, Sweden, and turbine installation is expected to start in 2Q23, with commissioning planned for the second half of 2023. 

Kotkan Energia and Nordic Ren-Gas sign co-operation agreement regarding intended power to gas plant

A plant producing green hydrogen and renewable gas is planned in Kotka, Finland. The power to gas plant would produce clean gas fuels equivalent to the annual use of 600 heavy vehicles. 

Estimated investments in Kotka is approximately EUR 100 million although no investment decisions are yet to be made. The next step is a feasibility study led by the project developer Nordic Ren-Gas. 

Assuming a successful feasibility study, followed by approved projected licensing and acquired funding, construction could begin in 2024, and its first phase could be commissioned by the end of 2026. 

YLE

What we’re reading

• Australia’s Twiggy Forrest strikes AUD50 billion green hydrogen MoU with German energy giant E.ON (RenewEconomy)
• Fortescue and E.ON sign deal to replace Russian gas with Australian green hydrogen (Financial Times)
• Factbox: What happens if Russia turns off gas to Germany? (Reuters)

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