Sweden's North frets about financial risks as the green boom stumbles
Sweden's local governments, frightened by Northvolt's struggle for survival and its potential impact on taxpayers, have asked the central government to increase financial support for Sweden's transition towards green industry. Last month, Europe's leading electric vehicle battery manufacturer filed for Chapter 11 bankruptcy in the United States with $5.8 billion of debts. The EU's energy transformation is failing, and shockwaves were sent through Skelleftea, northern Sweden, where its Northvolt Ett plant is located.
Nuclear roadblock to EU's new renewable energy target
On Monday, pro-nuclear countries expressed their opposition to the European Union's plans for a renewable energy goal. They said they would not support a goal which excluded atomic energy. Nuclear power is a controversial energy source that has caused political disagreements among the 27 EU member states. These disputes have delayed recent EU initiatives to reduce energy prices and to drive Europe's shift to low-carbon sources of energy.
Government body calls for support of offshore wind in Sweden
The development of offshore wind projects off the coasts of Sweden is not commercially feasible, according to a government panel tasked with speeding up and reviewing the process for authorising new wind farms. The head of the commission, however, said that an analysis showed this would not guarantee the construction of more wind parks. Magnus Hermansson, a reporter, said that there is no area near the coasts of Sweden where the income expected exceeds the costs anticipated.
Sweden and Norway consider early termination of green subsidies
They said that on Friday, Sweden and Norway had asked their respective energy regulators for options to end a joint certificate scheme earlier than the current target date of 2035. The joint electricity certificate scheme was introduced in 2012, and the last reform occurred in 2020. Its aim was to help build up 46.4 terawatt-hours (TWh), of renewable energy by 2030. This target had already been met in 2021. The scheme gives…
Nordic countries debate energy policy after spikes in power prices
On Thursday, the hourly electricity prices in certain parts of Scandinavia reached record levels. They were tenfold higher in some cases than average, due to cold weather and lower wind power production. This prompted politicians to suggest a change in energy policy. In Denmark, the price per megawatt-hour (MWh) for an hour starting at 1600 GMT has risen to 936 Euros. South-western Norway and Southern Sweden have seen prices above 700 Euros/MWh.
Lithuanian officials see a 'high probability' of Baltic Sea cables being intentionally cut
Gitanas Nuseda, the Lithuanian President said that it was highly likely that the two fibre-optic cables undersea that were damaged in the Baltic Sea last month were intentionally cut. After being damaged on November 17-18, both cables, one connecting Finland with Germany and the second connecting Sweden and Lithuania were repaired and back online. Nauseda, a reporter at the time, said that there was a high probability of this being a malicious activity. He added that there was no proof to show the damage was intentional.
A survey shows that big steelmakers are not switching to renewable energy sources.
A survey of 18 major firms revealed that the world's largest steelmakers are falling further behind in their shift to low-carbon production. Some still rely on fossil fuels as their primary source of energy. The steel industry is responsible for around 7% of the global CO2 emissions. This is about the same as India. Coal-fired blasting furnaces produce 2 tons of CO2 per ton of output. There are alternative technologies, such as electric arc-furnaces (EAFs), which can be powered by renewable sources.
Poland to Boost Offshore Wind, Energy Security
Poland is planning to assign new areas for offshore wind farms in the Baltic Sea and is drafting additional measures to boost the security of its critical energy infrastructure, government officials said on Wednesday."Maritime offices will submit analyses any moment, which will give grounds to make a decision on designating new areas for offshore wind farms," Deputy Infrastructure Minister Arkadiusz Marchewka told an industry conference.Poland is boosting its offshore ambitions in the Baltic Sea…
Orsted Addresses Swedish Baltic Sea Wind Concerns
Orsted CEO assures Sweden that the offshore wind industry has solutions that would address defense concerns. At issue: Sweden's rejection of a proposed 13 offshore wind farms in the Baltic Sea.Swedish Defense Minister Pal Jonson said on Monday that building wind farms in the Baltic Sea would pose defense risks, by making it harder to detect and shoot down missiles. As Europe turns to renewable sources to diversify energy supplies away from Russian oil and gas…
Sweden rejects 13 Baltic Sea Wind Farms, citing defense concerns
The Swedish government announced on Monday that it has rejected 13 applications for offshore wind farms to be built in the Baltic Sea because of defence concerns. However, it has approved one project on the west coast. Pal Jonson, the Swedish Defence Minister, said at a recent press conference that wind farms built in the Baltic Sea could harm defence interests. This is because they would make it more difficult to detect and shoot missiles with Patriot batteries in a conflict.
Norwegian infrastructure fund Aker to launch 1 billion euros in 2025
The head of the Infrastructure unit at Industry Capital Partners, a Norwegian investment fund for energy transition, backed by Aker ASA industrial group, said that it plans to launch a 1 billion euro ($1.08 billion), inaugural fund in 2019. Christian Rynning Toennesen, the head of ICP Infrastructure in Oslo said that they were working on energy projects onshore. He added that the projects were mainly for onshore winds, along with investments in data centers and power grid technologies…
CorPower Ocean, a wave energy technology company, has secured 32 million Euros.
The firm announced on Wednesday that it had secured funding of 32 million euros ($35 millions) to help commercialise wave energy technology. Wind and tidal projects are being developed in some countries to reduce emissions and achieve climate goals. The wave power industry is still in its early stages of commercialisation and costs are high. It is also more predictable than the wind power. The firm stated that the investment…
Spanish PM calls on EU to reconsider tariffs against Chinese EVs
The Spanish Prime Minister Pedro Sanchez stated on Wednesday that the European Union should reconsider its proposed import tariffs for Chinese-made electric cars, and urged Brussels to avoid a trade conflict. Sanchez's remarks during a trip to China indicate a shift in Spain's stance, which had previously supported the tariffs. He also expressed concern over the potential impact of the EU-China Trade Spat on Spanish industry. "I must be honest, we all have to rethink our position.
Hybrid vehicles give lifeline to Platinum Metals
In the next few years, a surge in hybrid car sales as the electric vehicle market slows will likely lead to an unexpected increase in demand for platinum group materials (PGMs), similar to what is predicted for coal's extended life. PGMs – primarily platinum and palladium – face a long-term decline in demand, as their primary use was to clean auto exhausts – a process not required in pure EVs. Few years ago, prospects for producers of PGMs such as Anglo Platinum Impala Platinum Sibanye Stillwater seemed grim…
Vattenfall, Swedish energy giants and other industry leaders join forces to invest in new energy sources
The companies announced on Tuesday that Sweden's largest utility Vattenfall will explore joint investments in new fossil free power production to meet the growing electricity demand as part of decarbonisation efforts. Vattenfall, along with Industrikraft, a group that includes Alfa Laval Boliden SKF Stora Enso, Boliden and the Volvo Group, is investigating how, when, and what investments they can make together. Borg stated that the annual Swedish power demand will double by 2045 from 140-150 Terawatt Hours (TWh)…
Alight and Swedish forest owner will partner up on 2 GW of solar
The firms announced on Monday that solar developer Alight has partnered with Sweden's largest forest owner Sveaskog in order to develop solar energy project totaling 2 gigawatts over a five-year period. Erik Brandsma said that investing in solar energy on Sveaskog's land was a natural move for the company as it is a large landowner. It also allows them to contribute to energy transition, and to future energy needs, without fossil fuels.
Digitalization is Drawing CCS a New Learning Curve
Digital solutions are accelerating the progress required to ensure CCS earns its place in climate change mitigation history.Carbon capture has been around since the 90s, but the behavior of CO2 in pipelines is still not that well understood. A lack of suitable multiphase flow assurance models has meant that past CCS projects have had to apply large, costly safety margins to transport and injection systems. Between 2020 and 2022…
Subsea Cable Installed on HiWave-5 Wave Energy Project
CorPower Ocean and Maersk Supply Service report the successful install of a 6.2km subsea export cable off the coast of northern Portugal to energise the flagship HiWave-5 Project.The 100-tonne cable was installed using the Maersk Achiever vessel and will provide power and data connection from an on-land substation in Aguçadoura to the wave energy demon-stration site 5.5km offshore.CorPower is now gearing up for the arrival of the C4 PTO (Power Take Off) system, which has completed a one-year dry test program in Sweden.
Battery-Electric Surge: ESS Scales Up in Maritime
Ask the right government department in any G7 state and you’ll find funding to put battery power for your vessel. Beyond funds, new battery makers and system integrators are ironing out safety issues, and a growing number of giga-sized cell factories offer hope that costs will fall for marine energy storage, as ESS choice grows. Efforts are also underway to recycle rare earth elements and to augment or greenify staggeringly high plant electricity inputs.
CorPower Ocean to Launch C4 Wave Energy Converter
CorPower Ocean will launch its next-generation C4 wave energy converter alongside its new ‘CorPack Concept’ providing the building blocks for future wave energy farms.The unveiling will happen in Stockholm, Sweden, on June 15. The new full-scale CorPower C4 device will be designed to form part of a four-system wave energy array, located off the coast of Aguçadoura, creating one of the world’s first grid-connected wave farms.“After a decade of development efforts…
