Newly forged partnership to boost green transition in Denmark and Sweden
Published by Bella Weetch,
Editorial Assistant
Energy Global,
A new partnership between Novo Holdings, Sampension and European Energy has been established with the intention to buy land for the construction of solar and wind farms in Denmark and Sweden. The three partners will provide DKK650 million (approximately €87 million) with the possibility of investments of up to DKK1.5 billion (approximately €200 million) through debt financing. This will significantly increase investments in the green transition in Denmark and Sweden. European Energy will handle the development of the solar and wind farms on the acquired areas.
The new partnership will purchase agricultural land that is suitable for renewable energy plants. Furthermore, the partnership will explore opportunities to combine food production and energy production as well as convert lowland soils to green energy production. This can lead to both increased biodiversity in the areas and be a double benefit for the climate if more CO2 is bound in the low-lying soils, at the same time as the green energy is established on earth.
The partners expect the collaboration to contribute to Denmark getting one step closer to the ambitions in the Danish Climate Act, where greenhouse gas emissions are reduced by 70% in 2030. In addition, conversion of agricultural land to renewable energy production will strengthen the conditions for achieving cleaner groundwater.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Spring 2021 issue
The Spring issue of Energy Global features a varied spectrum of in-depth technical articles detailing recent projects, future projections, and technological advancements in the renewables sector, from companies including GlobalData, Atlas Copco, Watlow, QED Naval, TRACTO, AB Energy, and more.
Read the article online at: https://www.energyglobal.com/special-reports/07042021/newly-forged-partnership-to-boost-green-transition-in-denmark-and-sweden/
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