6 December 2022
By 2050, Sweden could have 6 to 25 small nuclear power reactors (SMR)
At the beginning of this year, Kärnfull Next was launched with a business concept to help industrial customers and municipalities build SMRs, and this summer Vattenfall announced that it would investigate the conditions for building two reactors in Ringhals. But what is the long-term potential in Sweden? The consulting firm WSP has investigated this. The survey concluded that despite the new Government's strong nuclear profile, WSP expects Sweden to end up closer to the lower end of the range. That is, by 2050, Sweden could have between 6 and 25 small nuclear power reactors (SMRs), equivalent to an output of 1,800 to 5,000 MW.
Vattenfall puts pressure on Government for its wind power project in southern Sweden
Energy company Vattenfall is pressuring the Swedish Government to make a quicker decision on the Kriegers Flak wind power project in the south of Trelleborg. The wind power project, located offshore south of Trelleborg in the economic zone between Sweden, Denmark and Germany, has been planned since 2002, and Vattenfall warned in a letter to the Government that slow processing could mean further delays.
Lenzing and Renewcell sign large-scale supply agreement to make fashion industry more circular
Lenzing Group of Austria, a supplier of sustainably produced specialty fibres, and Swedish textile recycling company Renewcell recently signed a multi-year supply agreement to accelerate the textile industry's move from a linear to a circular business model. The agreement covers the sale of 80,000 to 100,000 tonnes of Renewcell's 100% recycled dissolving pulp Circulose® to Lenzing over a five-year period for the production of cellulose fibres for fashion and other textile applications.
Finnish Solar Foods grows proteins that require neither land nor livestock, only CO2 and renewable energy
Instead of watering and fertilising, Finnish Solar Foods grows proteins that use air and renewable electricity. They say that using the current process, energy conversion is 20 times more efficient than photosynthesis and 200 times more efficient than meat. The end product is a mustard-yellow powder containing 70% protein that can be used in foods ranging from meat substitutes for soy, to baked goods for eggs and dairy products for milk. So far, Solar Foods has received EUR 40 million in external funding, notably for the construction of the new Plant 01 facility, which will be able to produce 100 tonnes of Solein protein powder per year. The new facility will be ready near Helsinki's Vantaa airport in early 2024. At the end of October, Solar Foods received its first regulatory approval from the Singapore Food Authority. They expect to receive US and EU approvals in 2024.
Ørsted and Skovgaard Energy to produce hydrogen at Holstebro
Energy giant Ørsted and Skovgaard Energy have signed a letter of intent to build a 150 MW electrolysis plant in Idomlund, near Holstebro. The plant will run on wind and solar energy. With the new investment, the parties expect more offshore wind farms to come ashore in Idomlund and for other actors to see that there is potential for development in the area. The investment in the first phase alone is expected to be anywhere between DKK 1 to 5 billion. The plant could be expanded to 3 GW of electrolysis capacity, which would make it one of the largest plants in Europe.
Danish Agro receives key approval for €1 billion investment in energy production
Back in the spring of 2022, Danish Agro announced that it was working to establish a joint company with energy group Aura. The company, called Ada Green Energy A/S, is the flagship of Danish Agro's green transformation, which will invest in and develop green and renewable energy projects. The company is now officially a reality, as Ada Green Energy has received the seal of approval from the Competition Authority. The company aims to reach 200 GWh of electricity production by 2025. ADA Green Energy will be headquartered in Garten, where Danish Agro and Aura also have offices.
UK private equity fund may take Denmark's second largest biogas group under its wing
With Industriens Pensions becoming the largest investor in the Nordic Partnership, Arjun Infrastructure Partners has acquired 50% of Bigadan, the second largest biogas group in Denmark. The formerly purely family-owned company may also attract interest from other investors following Shell's USD 1 billion acquisition of Natural Energy. A British private equity fund, together with pension company Industriens Pension, among others, could be the next to capitalise on the rapidly growing Danish and international interest in the Danish biogas industry.
New technical solutions for balancing the grid on the west coast of Finland
The high regional wind power capacity poses a challenge to the power system. Wind power is connected to the grid by means of inverters or rectifiers. Rectifiers do not respond to changes in grid frequency or voltage with the help of their natural rotating mass, as is the case with conventional power plants. In the absence of natural balance maintenance characteristics, the electrical system becomes more susceptible to disturbances and more complex to manage. Fingrid Finland is therefore building a synchronous compensator, i.e. a large synchronous motor without energy, at the Kalajoki Jylkä substation. This solution guarantees the operation of wind power concentrated on the west coast of Finland and increases the reliability of grid operation in the region. The synchronous compensator will be available in 2025.
Turku Energia invests in new large wind farm
Turku Energia continues to invest in renewable energy and aims to become carbon neutral by 2029. Suomen Hyötytuuli Oy, a subsidiary of Turku Energia, announced on 2 December 2022 that it is investing in its largest wind farm in North Ostrobothnia, in the Siikajoki municipality area, and is Turku Energia's largest wind investment to date. Construction will start at the end of 2022 and the Siikajoki wind farm will be commissioned in 2025. With the completion of the project, Turku Energy's share of wind power production in annual electricity purchases will increase from the current 20% to 33%. Turku Energia is one of eight City Energy shareholders in Suomen Hyötytuuli, with a 12.5% ownership stake.
Doconomy wins the Newcomer of the Year Award
The Swedish 2021 Newcomer of the Year Award was presented to Doconomy, which in a short time has established itself as a leader in digital tools for measuring carbon footprints. The award was presented to a player in the cultural and creative industries that has successfully embarked on an international journey or has export potential. The Minister of International Development Cooperation and Foreign Trade, Johan Forssell (M), said that Doconomy shows how profitable business and a vision for a more sustainable future can go hand in hand. It is a young company that promotes sustainable development in Sweden and globally through innovative digital solutions.
What we're reading
- Europe urgently needs a new industrial master plan (Financial Times)
- Chinese battery makers set to dominate Europe’s car industry (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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