8 June 2022
H2 Green Steel awards 7 year contract to Statkraft, but still cant get power delivered for desired start date
H2 Green Steel has signed a multi-billion agreement with the Norwegian state power company Statkraft. The agreement, which covers the purchase of a total of 14 TWh of renewable electricity between the years 2026-32. But H2GS would prefer to start production in 2024. Unfortunately for it, the network in the region is not adapted to a new giant demand point, and therefore physical network reinforcements are required, said Maria Jalvemo, program manager for fossil-free upper Norrland at the Swedish power network (Svenska kraftnät). There appears to be a difference of opinion on whether H2GS will be able to start up in 2024, with a transitional arrangement. Although the company believes that this is possible, due to a surplus of power in the region,Svenska kraftnät says that there are many other changes that need to be taken into account before it can commit to H2GS. covers the purchase of a total of 14 TWh of renewable electricity between the years 2026-32. But H2GS would prefer to start production in 2024. Unfortunately for it, the network in the region is not adapted to a new giant demand point, and therefore physical network reinforcements are required, said Maria Jalvemo, program manager for fossil-free upper Norrland at the Swedish power network (Svenska kraftnät). There appears to be a difference of opinion on whether H2GS will be able to start up in 2024, with a transitional arrangement. Although the company believes that this is possible, due to a surplus of power in the region, Svenska kraftnät says that there are many other changes that need to be taken into account before it can commit to H2GS.
The company also had a hearing for its application to the Land and Environmental Court to try the first part of the company's application for an environmental permit.
Today's industry , Dagens Nyheter
Støre assures the EU that they will get offshore wind from Norway
As Nordic Green News reported in May, the EU under Danish leadership launched a huge plan for offshore wind from the North Sea. Norway was not invited to this summit, which Denmark hosted on 18 May, on the basis that it was a meeting for the countries that "have initiated discussions about connecting to the Danish energy island in the North Sea." Amidst evident politicking, Norwegian Prime Minister Jonas Gahr Støre has now sent a letter to the EU in which he sought to assure that Norwegian offshore wind efforts will be comprehensive, and it will benefit the EU.
Ørsted issues green bonds
Ørsted has secured EUR 1,350 million through the issuance of green senior bonds to finance its global build-out of renewable energy and green growth ambition of reaching approx. 50 GW of installed capacity by 2030.
Power-to-X plant in Nakskov to produce green marine fuel and sustainable plastic
The Danish-owned energy company European Energy will take over 136,000 m2 of land south of the Port of Nakskov to build a so-called Power-to-X plant (PtX), which will produce e-methanol for shipping. In addition, it is expected that part of the production will be used to produce fossil-free plastic. The forthcoming production in Nakskov will thus displace large amounts of fossil CO2 and must be seen in connection with European Energy's focus area within PtX. Earlier this year, the company announced a collaboration with, among others, Maersk on the development of e-methanol projects.
Swedish institutions make major investment to facilitate companies' climate change
A number of institutions, including the Swedish Agency for Economic and Regional Growth (Tillväxtverket) RISE (research institutes) and IVL (Swedish Environmental Research Institute), will invest a total of approximately SEK 150 million to coach, inspire and make visible to companies and organisations what steps can be taken to move forward in climate change. The investment is primarily aimed at small and medium-sized companies and aims to show business opportunities and create competitiveness in the transition.
Ørsted and ATP sign MoU with GlobalConnect
Ørsted and the pension company ATP want the North Sea's Energy Island to be more than just an island. The partners, who are fighting to win the tender for the energy island, which is to be established almost 100 kilometres offshore in the North Sea, have signed an agreement with the fibre company GlobalConnect, with a vision to build an innovative energy, which can be a hub in the digitalisation of Northern Europe and attract global tech investments to Denmark.
Dansk Eksportkredit to finance its first floating offshore wind project
EKF Danmarks Eksportkredit has just signed an agreement on financing a floating offshore wind project. The project has been named Les Eoliennes Flottantes du Golfe du Lion (EFGL), and is located in the French part of the Mediterranean, about 16 kilometers off the coast of Leucate. The project consists of 30 MW distributed over three 10 MW Vestas turbines, and EKF participates with DKK 447 million. “That we can now also go into floating offshore wind, which has a huge potential in places where you can not have ordinary offshore wind turbines, is an important step for EKF,” said Peter Boeskov, CCO at EKF.
Metacon begins the list-switching process for Nasdaq First North Growth Market
Metacon AB announced that it had begun the process of changing the marketplace for trading in the Metacon share, from NGM Nordic SME to Nasdaq First North Growth Market.
Feddersen Group invests in Biofiber Tech
KD Feddersen, a global group active in the distribution and production of construction plastics with headquarters in Germany, is investing in the Swedish greentech company Biofiber Tech, whose patented technology, FibraQ replaces fossil-based plastic with wood fibre in plastic applications. The strategic partnership aims to “add a distribution and sales channel that helps us reach new markets and industries on a global scale,” said Eric Zhang, founder and CEO of Biofiber Tech.
Jämtkraft buys three wind farms from Wallenstam
Jämtkraft is purchasing 3 wind farms with a total of 13 wind turbines from Wallenstam. The acquisition expands the company's electricity supply capacity to 120,000 households.
Vestas receives a provisional order for 900 MW in Germany
The agreement covers 64 turbines of the type V236-15.0 MW for EnBW's 900 MW offshore wind project for delivery in 2025.
What we’re reading
- Europe at risk of winter energy rationing, energy watchdog warns (Financial Times)
- Regulators take aim at ‘wild west’ carbon offset market (Financial Times)
- New Zealand to price sheep and cow burps to cut greenhouse gases (Reuters)
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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