9 May 2023

Today's Top Nordic Green News:

• Otovo reports surging interest and lowered expenses for solar panel installations in Q1 2023
• Fortescue Future Industries and Statkraft secure renewable power for green hydrogen and ammonia project in Norway

Otovo reports surging interest and lowered expenses for solar panel installations in Q1 2023

Otovo, Europe's marketplace for residential solar panel and battery installations, has released its financial results for the first quarter of 2023, indicating a decrease in the costs of solar panel installations. After a challenging 2022 due to the Ukraine-Russia war and an energy crisis, which led to a significant price increase, homeowners now have positive news as prices are dropping. Over the past 20 years, solar module prices have fallen by 90%, but the trend was briefly interrupted in 2022. However, the situation has changed, and Otovo predicts a downward trend in prices, making solar energy more affordable for residential use. The company also reported a substantial increase in installations and revenue during the first quarter, reflecting the growing market demand for solar energy in Europe.

SolenergiNyheter

Denmark's Climate Council ensures electricity supply security in transition to solar and wind energy

A new analysis from Denmark's Climate Council shows that there are good opportunities to increase the proportion of solar and wind energy in the country's electricity system and still have enough power. However, the future Danish and European electricity system will be under pressure when the weather does not behave for longer periods in individual years. The analysis confirms that in some years with challenging weather, there may be a risk of a lack of power if high electricity consumption coincides with periods of limited sun and wind in large parts of Europe. The key to avoiding power cuts in extreme weather situations is to make electricity consumption flexible, establish power storage, and use gas turbines in rare emergency situations. The Climate Council suggests that to maintain high electricity supply security, the government should invest in so-called regulated electricity capacity such as gas turbines, which can produce electricity using hydrogen or biogas with a low climate impact.

Press Release

Eurowind Energy expands with acquisition of biogas player Greenline Energy

Eurowind Energy has recently acquired Greenline Energy, an engineering company based in Flensburg, Germany, which specialises in biogas plants. With a strong reputation and expertise in the biogas industry since 2006, Greenline Energy's previous owner and CEO, Frank Nielsen, will lead the new Eurowind Energy office in Flensburg. The office will focus on project development in wind and solar energy, hydrogen and will also bring specialised knowledge in biogas. 

EnergiWatch

Fortescue Future Industries and Statkraft secure renewable power for green hydrogen and ammonia project in Norway

Fortescue Future Industries (FFI) and Statkraft have reached an agreement to secure renewable power for a planned project in Hemnes, Norway. The agreement involves a long-term power purchase agreement (PPA) where Statkraft will supply FFI with renewable energy from the Norwegian grid. The project aims to establish a 300 MW plant for green hydrogen and green ammonia production, with the potential for future expansion. FFI believes that the project can create a new industry and job opportunities in the Hemnes region. The agreement is contingent on a positive final investment decision for the Hemnes project.

Press Release

What we’re reading

• Canada’s bet on the biggest incentive recorded (FDI Intelligence) 
• Essar ignites £30bn plan to decarbonise UK’s north-west (FDI Intelligence) 

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