31 March 2023
Today's Top Nordic Green News:
- OX2 to acquire ESCO Pacific, boosting renewable energy portfolio in Australia
- Aneo to invest NOK 100 million in Sweden's largest solar park
- Denmark's Export and Investment Fund finances Topsoe's first factory for Power-to-X electrolysis units
OX2 to acquire ESCO Pacific, boosting renewable energy portfolio in Australia
OX2 has agreed to acquire Australian renewable energy developer ESCO Pacific for USD 94 million. The deal is conditional on certain conditions being met and is expected to be completed by the end of April. ESCO Pacific has a project development portfolio of 1,420 MW, of which 1,220 MW is solar power and 200 MW is energy storage. The acquisition is expected to contribute positively to OX2's results from 2024. The new Australian government has decided to reach net zero by 2050 and is planning significant infrastructure investment to enable the build-up of renewable capacity.
EnergiNyheter, Press Release, Press Release, Di
Aneo to invest NOK 100 million in Sweden's largest solar park
Aneo, a new Nordic renewable energy group established last year, is investing about NOK 100 million in the creation of one of Sweden’s biggest solar parks. The facility, being built on an area of 270,000 sq m outside Gislaved in Jönköping County, is due to be completed in H2 2023. It will have an installed capacity of 15 MW and an annual production of 15 GWh, equivalent to the annual consumption of over 3,000 households. Aneo aims to create 2 TWh of solar power by 2030.
Denmark's Export and Investment Fund finances Topsoe's first factory for Power-to-X electrolysis units
Denmark's Export and Investment Fund (EIFO) has provided Topsoe with a guarantee of DKK 333 million for its first Power-to-X factory in Herning, which will supply electrolysis units. The factory is set to be operational by 2025 with an annual capacity of 500 MW electrolysis units, with more projects in the pipeline. The electrolysis units will primarily go to export markets and be included in Power-to-X projects. The project fits with EIFO's strategy to finance the green transition and supports the next phase of the green energy transition.
Neste successfully scales up liquid plastic waste treatment in Finland
Neste has completed the second series of industrial-scale process runs of liquid plastic waste at its refinery in Borgå, Finland, treating close to 3,000 tonnes of liquid plastic waste in total. The runs aim to increase the company's understanding of how different types of plastic waste behave during chemical recycling in the refining processes, with the final product obtained being Neste RE, a petrochemical drop-in raw material that can be converted into new plastic by Neste's partners. Neste plans to scale up the capacity at its Borgå facility to process 400,000 tonnes of liquid plastic waste per year by 2030, with an aim to process more than one million tonnes of plastic waste per year from 2030 onwards.
Ikea buys three NSW solar farms in second major Australian investment
The investment arm of Ikea franchise owner Ingka Group has announced its second push into the Australian renewables market, with the purchase of three large-scale solar projects totalling 195MW.
SaltX Technology starts construction of electric calcination plant for cement industry's green transition
SaltX Technology has begun construction on its demonstration plant for electric calcination, which will be built in Hofors next to ScanArc's facilities. The plant will be the world's first large-scale demonstration facility for electric calcination, a technology that enables electrified and emissions-free production of burnt lime and cement. The facility will test various materials and refine processes to function optimally for the construction of full-scale production facilities. The plant is set to be completed by autumn and has an essential role in the industrialization phase of SaltX's patented innovation, Electric Arc Calciner (EAC). The collaboration with ScanArc's electric plasma burners is crucial for the project's success. Hofors Municipality welcomes SaltX to the region and sees the project as an essential step towards reducing greenhouse gas emissions from the industry.
Finnair purchases sustainable jet fuel from Neste to reduce carbon emissions
Finnair has bought 750 tonnes of sustainable aviation fuel from Neste to help it reduce carbon emissions from flights. Using the fuel will reduce greenhouse gas emissions by up to 80% over the fuel’s life cycle compared to using fossil jet fuel. The purchase is Finnair’s largest to date and the fuel will be delivered by Neste to Helsinki Airport in early 2023. A small proportion of the price of each Finnair flight ticket goes towards the cost of using sustainable aviation fuel. Finnair aims to achieve carbon neutrality by 2045.
Ørsted to build offshore wind farms in Taiwan with 920 MW capacity by 2025
Ørsted has made a final investment decision to build the offshore wind farms Greater Changhua 2b and 4 in Taiwan. The two wind farms have a total capacity of 920 MW and are expected to be completed by the end of 2025. The project has a 20-year power purchase agreement with Taiwan Semiconductor Manufacturing Company. The onshore construction phase is expected to begin in 2023 with the offshore construction phase to be completed by the end of 2025.
What we’re reading
- UK and EU boost cooperation over new carbon border tax (Financial Times)
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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