European Energy receives EU grant for green methanol
Published by Oliver Kleinschmidt,
Assistant Editor
Energy Global,
European Energy has been awarded a grant by the EU Commission under the EU Innovation Fund for an upcoming green methanol facility in Denmark.
The grant, which exceeds €50 million, will help finance the construction of the project. The signing of the grant will happen in early 2025.
“We are honoured that the EU Commission has chosen to support our project as part of the next wave of green transition across Europe. With this project, we take the development of large scale green methanol facilities to the next stage. Our firm target is to increase size and reduce cost while improving efficiency as this is required to drive down the cost of the green transition. We thank EU’s Innovation Fund for supporting us in this challenge and look forward to bringing the project into construction and operation,” said Emil Vikjær-Andresen, EVP and Head of Power-to-X at European Energy.
The green methanol facility is projected to produce over 100 000 tpy of green methanol and reduce CO2 emissions by 150 000 tpy.
Construction is expected to begin in 2026, with the facility becoming operational by 2028/29.
The project builds on the unique knowledge European Energy has generated with its first green methanol facility in Kassø, Denmark, which is currently being commissioned. This facility has a production capacity of approximately 32 000 tpy of green methanol. so the new project more than triples the capacity.
The final grant is subject to negotiations.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Autumn 2024 issue
Dive into the latest renewable energy insights in the Autumn issue of Energy Global, out now! The issue starts with an insightful guest comment from Cristiano Spillati, Managing Director at Limes Renewable Energy where he discusses the need for European renewable energy suppliers to accelerate the rate of the energy transition. This is followed by a regional report from Cornwall Insights on the battery energy storage industry in Australia. This issue explores key topics including offshore wind subsea cables, offshore wind support vessels, digitalisation, wind turbine components, and more!
Read the article online at: https://www.energyglobal.com/other-renewables/24102024/european-energy-receives-eu-grant-for-green-methanol/
You might also like
Octopus Energy unlocks French green power for 150 000 homes
Octopus Energy’s generation arm is powering ahead with its green energy push in France, striking four deals in solar and wind energy to power 150 000 homes.