Mundus Nordic Green News – 20 October, 2020

Sweden’s government looks to do away with municipal vetoes on wind power

The debate on Sweden’s domestic wind power production, and possible expansions of it, has been present in the media in recent weeks. On Sunday it was reported that the government was in favour of investigating whether it is possible to remove municipal vetoes regarding wind power expansion proposals. According to the Minister for Financial Markets and Housing, Per Bolund (MP), removing the veto would likely lead to an increase in investments, as the difference is that one then follows the usual planning conditions. There is a greater predictability and a greater opportunity also for those who want to invest to be able to change the project as it unfolds.” Bolund also claimed that roughly 500 plants had been stopped by municipal vetoes, and that decisions like these were often reached after the projects’ starting date.

 

Danish hydrogen company to raise NOK 290 million on Norwegian stock exchange

Everfuel was spun-out from Nel ASA as a separate, vertically integrated hydrogen fuel company in 2019. The Company operates hydrogen production (electrolysers), hydrogen distribution and hydrogen stations, supported by innovative digitalization of the entire supply chain in one central system. The primary customers are owners and operators of buses, taxies and trucks, with additional interest and supply for segments within zero emission such as delivery vans, trains, marine vessels, private cars and industrial applications.

 

Everfuel is part of the partnership with Copenhagen Airports, AP Moller - Maersk, DSV Panalpina, DFDS, SAS and Ørsted on a large hydrogen project for the production of sustainable fuels. The company has therefore launched a capital raising of approximately NOK 290 million to support its expansion to make green hydrogen for mobility commercially available throughout Europe. Three keystone investors Saga Tankers Luxor Capital and BankInvest have undertaken to subscribe for a total of NOK 120 million. Everfuel has applied for admission to trading of the Company's shares on the Merkur Market.¨. 

 

Saga Tankers adopts new renewables strategy

Saga Tankers, which is owned and controlled by Norway’s Øystein Stray Spetalen, announced that it is changing strategy to focus on renewable energy and investing in hydrogen. At the same time, it takes on a new CEO and will change its name to Saga Pure. On Monday night, Saga announced that it had completed the sale of the entire shareholding in Standard Drilling, for which they raised NOK 69 million. The market liked the announcement and Saga’s stock was up 70% on the day.

 

The Danish Energy Agency and EKF start collaboration for international green transformation

The Danish Energy Agency and Denmark’s Export Credit (EKF) have entered into a cooperation agreement to disseminate Danish experiences with green transformation of the energy sector, to help accelerate the global green transition and Danish solutions. Target markets include Vietnam, South Korea, Turkey, India, Japan, Egypt, South Africa, Mexico, Ukraine and the USA.

 

Nordic countries working together with the for a global agreement on plastics

On Monday Nordic environment ministers together with Fiji, Rwanda and Peru launched a report highlighting the need for a global agreement to reduce plastic waste which contaminates lakes and seas threatens ecosystems affects fishing maritime transport outdoor life tourism food safety and other areas. The report contains proposals that will engage countries in a joint effort to prevent plastic pollution.

 

Sweden’s climate investment increases palm oil usage in Sweden

In the autumn budget, Sweden's Government and its cooperation parties announced that they were doubling down on the reduktionsplikt (Sweden’s reduction obligation) initiative, also dubbed the fuel change, which according to their calculations would see Sweden’s 2030 emissions goals reached. Fossil fuels would be phased out by increasing the amount of biofuel currently mixed with petrol and diesel. But according to Dagens Nyheter, a leading daily, the Government made several errors in their calculations. According to statistics from the Swedish Energy Agency, the proportion of palm oil and the by-product palm fatty acid distillate (PFAD) that ends up in Swedish fuel tanks has increased, meaning that the climate investment might not be so beneficial as it was claimed to be. “If you try to replace all fossil fuels with biofuels, the raw material is simply not enough,” said Ola Hansén at WWF, who outlined that an increased dependency on palm oil and PFAD would see rainforests further depleted. In some instances, palm oil and PFAD made up 44% of the contents in biofuel mixed diesel that was sold in Sweden. In an analysis, DN’s reporter Jannike Kihlberg noted that although the initiative paved the way for domestic biofuel production, it was unlikely that it alone would meet Sweden’s fuel needs. Kihlberg also pointed out that several other alternatives, such as hydrogen and electricity, were already available instead of biofuel options (see our blog), and that it was a positive indication that the Government on Thursday announced plans to speed up the transport sector’s electric transition.

 

Alfa Laval takes renewable energy orders in the US worth SEK 130 million

Alfa Laval - a  leader in heat transfer, separation and flow management - has taken an order for the delivery of a process line to HollyFrontier's renewable diesel production facility in the United States. The order has a value of SEK 130 million, with delivery expected to take place in 2021.

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