European Energy sign e-methanol agreement
Published by Bella Weetch,
Editorial Assistant
Energy Global,
The developer of solar and wind farms, European Energy, can now also call itself an e-methanol producer, as the company have signed an agreement to acquire co-ownership of the Danish Power-to-X start-up, REintegrate. This will give European Energy a say in the development and construction of e-methanol plants in Denmark. Production is expected to begin in 2022, and more plants will follow in the coming years both in Denmark and the rest of Europe.
In December 2020, Circle K announced its intention to take off 50 million litres of liquid electricity from REintegrate, and European Energy has since signed an ownership agreement with the start-up. This move will ensure the flow of green electricity directly into future production of liquid electricity or e-methanol. As such, Denmark now owns Power-to-X production – made from locally sourced Danish green electricity, produced by a Danish company and sold to the Danish market.
REintegrate has established itself as one of the first Danish companies that can produce green fuel using green electricity and CO2 from Danish biogas plants, on a commercial basis.
The Power-to-X of the future is subsidy-free
The development of green fuels is still at an early stage, and the first small step in the development of a real Power-to-X industry requires close cooperation with all actors – including the State – in order to accelerate its development. However, REintegrate, European Energy and Circle K consider it to be realistic to get the prices of e-methanol so far down that in the long run no subsidies will be required.
European Energy has previously announced possible site locations for Power-to-X projects in Denmark including the former coal power plant site at Stigsnæs as well as Kalundborg and Kassø by Aabenraa, where the company is actively developing major solar and wind farms.
European Energy has become a minority owner of REintegrate, joining the management at the same time.
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Read the article online at: https://www.energyglobal.com/bioenergy/08122020/european-energy-sign-e-methanol-agreement/
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