Mundus Nordic Green News – 3 December, 2020

Ørsted appeals huge Danish tax decision on UK wind farms

The Danish Tax Agency is claiming DKr6.6bn ($1bn) including interest on two British wind farms. The claim against Orsted is for projects off the coast of Yorkshire and Cumbria in 2015 and 2016. A small part of these projects, mostly engineering and planning, occurred on Danish soil. The bulk was handled by UK subsidiaries. In a press release, Ørsted said it disagreed with the decision and will appeal it to the National Tax Court. Ørsted will also take steps to ensure that the Danish and British tax authorities initiate negotiations to avoid Ørsted being double taxed, if necessary by the case being decided by an independent arbitration panel. The Financial Times also covered the story, taking the company’s side over what it saw as a bizarre tax grab by the Danish authorities.

 

Ørsted joins the SteelZero initiative

Separately, Ørsted also announced that it was to join the SteelZero initiative, which aims to increase market demand for CO2-neutral steel. Jakob Askou Bøss, Strategy and Communications Director at Ørsted remarked that "As one of the world's largest companies in the field of renewable energy, we have set ourselves the goal of making our entire supply chain CO2-neutral by 2040,". “And it is not possible without low-emission steel. By participating in the SteelZero initiative, we make it clear to the steel industry that we are ready to take part in the innovation and cooperation needed to achieve the goal.

 

“Ban petrol cars,” Volvo Cars chief urges

Volvo Cars’ CEO Håkan Samuelsson wants to see a ban unveiled on diesel and petrol cars. It would be better to nudge motorists in using battery vehicles than introducing a range of carrots like subsidies, as the combustion engine is a “relic of the past,” Samuelsson resonated. The Volvo chief also commented that “nobody can build a successful and profitable business by relying on incentives,” adding that incentives help encourage industries to develop “in the right way” in the short-term, “it could be more efficient for governments to set a clear agenda towards an electric future.” Volvo Cars aims to roll out 50% of its car models to be fully battery-run by 2025, while the remaining 50% are hybrids.

 

Minesto delivers the first tidal energy to Faroe Islands' electricity grid

As part of the commissioning work of the DG100 tidal power plant in the Faroe Islands, Minesto, a developer of a unique marine tidal energy system, has reached the milestone of supplying electricity to the Faroe Islands' electricity grid. After installation of the project infrastructure, including foundation, export cable and control station on land, in October, Minesto installed and began commissioning activities of the company's tidal power plant DG100 with 100 kW rated power. 

 

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