8 March 2022
Copenhagen Energy plans largest offshore wind power project in Australia
Copenhagen Energy plans for a massive 3GW Leeuwin Offshore Wind project comprising 200 turbines to be installed in Geographe Bay, roughly 130km south of Perth. The Danish company has lodged the project together with Australia’s federal government, who so far are proposing the installation of offshore wind turbines and associated offshore substation platforms in Commonwealth waters, with the electricity to be brought onshore via export cables that will traverse state waters to landfall onshore. Construction is set to begin in 2026 and be completed in 2028. Once put into operation, the wind farm is estimated to have an output of 11 TWh per year.
War in Ukraine causes record high electricity prices in the Nordics
The price of electricity in many European jurisdictions is breaking all records due to the outbreak of war in Ukraine. For instance, in Denmark, on 7 March, the price per kilowatt hour was DKK 2.93, however the wholesale price is expected to reach a new record of DKK 3.38 on 8 March, surpassing the record high electricity prices that were seen in December 2021.
Nibe shares up 18% since the outbreak of war
The Swedish heat pump manufacturer Nibe started the 2022 stock market year in a weak position. However, Nibe has benefitted from the rising energy prices and as a result the company’s share has rosen with 18% since the outbreak of the war in Ukraine.
Norwegian industry chief wants Norway to enter into energy supply agreement with Europe
The head of the Confederation of Norwegian Enterprise (NHO) Ole Erik Almlid wants Norway to invest in offshore wind power and enter into an agreement with Europe on energy supplies as he believes that it would help strengthen Europe’s energy security and secure Norwegian export revenues and climate cuts. “Norway should be a large and important energy nation that contributes to Europe’s energy security. We contribute with oil and gas, but we can also contribute with offshore wind. This will be the large, important source of energy on the renewable side for Europe, whether we are involved or not”, said Almlid.
Semcon supports Hystar’s production of green hydrogen
Semcon is supporting Norwegian Hystar in the development of their new electrolyser technology for the production of green hydrogen gas. The goal is to produce up to 150% more hydrogen without using more energy than today’s conventional process. The project is now being expanded and Semcon is entering with specialist knowledge so that the production of electrolyser stacks, which convert electricity into hydrogen and oxygen, can be automated. The project, including the construction of a 1MW pilot plant, started on a smaller scale in February 2022, with the hope of expanding during the two years of construction.
What we’re reading
- EU plans to cut Russian gas imports by two-thirds in a year (Financial Times)
- German operators prepare for extending runtime of decommissioned coal plants (Clean Energy Wire)
- Belgian Greens make U-turn to consider nuclear plants extension (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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