2021-06-18 16:08Pressrelease

18 June 2021

Mundus Nordic Green News

Denmark puts DKK 850 million into PtX

The Danish government and seven of the parliamentary parties are now allocating DKK 850 million to support the development of climate-friendly fuels. This will be done through Danish Power-to-X projects (PtX), which can convert electricity into hydrogen and liquid fuel. The funds are allocated to a pan-European project on green hydrogen, a so-called IPCEI, which aims to support large, transnational development projects that can benefit the whole of Europe. The advantage of providing support through IPCEI is that it provides a more flexible framework to support the supply of renewable hydrogen and other PtX projects in order to reduce costs so that supply can match demand on market-based terms in the long run. Six Danish PtX projects are set to receive funding from the pool if they are selected for the completed IPCEI.

Minister of Climate Dan Jørgensen said “Production of green hydrogen has a huge potential, both to create CO 2 reductions and to become Denmark's next green business adventure. With a joint, European effort, we can really get the technology up in scale and down in price and speed up the green transition of e.g. shipping and aviation that cannot be directly electrified directly. We allocate DKK 850 million. to give Danish companies the best conditions for developing Power-to-X technology and help kick-start the production of green fuels. It will not only benefit Denmark, but also the whole of Europe. (press release, Dansk Gas Forening, borsen.dk)

 

What we’re reading

  • G7 offers ‘peanuts’ to developing world, putting climate ambition in doubt (Climate Home)
  • Spain’s Acciona eyes €9.8bn valuation for renewable energy IPO (Financial Times, paywall)
  • The (not so) long view on the carbon transition (Financial Times, paywall)


Topics: PtX

About Mundus 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 clip the stories of most relevance to international businesspeople and policy experts from the flow of news. We supplement these with our own opinion pieces and commentary, in English.