Finland backs renewables, electrofuels with EUR 100m

October 4 (Renewables Now) – Finland’s Ministry of Financial Affairs and Employment (MEAE) on Tuesday awarded EUR 99.8 million (USD 98.7m) of funding to 6 clear vitality initiatives beneath Finland’s Restoration and Resilience Plan.

The initiatives embody two schemes that may use renewable hydrogen to provide electrofuels, two large-scale photo voltaic initiatives and two initiatives to affect industrial processes.

Vantaa Energia Oy will obtain EUR 30.2 million to put money into a plant producing renewable methane in Vantaa. The ten-MW facility would produce about 80 GWh of renewable methane a 12 months from renewable hydrogen and carbon dioxide separated from the combustion gases in a remedy plant for hazardous waste. A lot of the output will probably be used as a transport gas and a few will exchange pure fuel in warmth manufacturing throughout peak durations.

St1 Oy has been awarded EUR 35.4 million to put money into a renewable methanol plant in Lappeenranta. The 17-MW plant would produce about 138 GWh of renewable methanol per 12 months from renewable hydrogen and carbon dioxide separated from the combustion gases of a cement manufacturing unit. It’s supposed to offer renewable gas for maritime transport and probably for highway transport or the chemical business.

St1 mentioned in a separate announcement it desires to develop a replicable and scalable artificial methanol manufacturing idea. It famous the ministry’s funding resolution wants approval from the European Fee.

Ilmatar Power Oy and Exilion Tuulihankkeet Ky have been granted EUR 19.6 million and EUR 8.9 million, respectively, for initiatives that combine solar energy with wind energy technology and electrical energy storage. Ilmatar will construct a 150-MW photo voltaic plant and Exilion Tuulihankkeet will put money into a 70-MW photo voltaic set up. At the moment, there aren’t any solar energy crops of that scale within the Nordic nations, MEAE mentioned.

The announcement additionally contains two grants of near EUR 3 million every to Fiskars Finland Oy Ab and Makela Alu Oy for investments within the electrification of business.

MEAE is to make extra assist choices by the tip of 2022. A complete of EUR 453.2 million has been reserved for vitality funding assist beneath Finland’s Restoration and Resilience Plan.

(EUR 1 = USD 0.989)

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