European Energy A\/S and Mitsui & Co Ltd have secured debt financing for their joint e-methanol project in Denmark. The project, which is expected to produce approximately 45,000 tonnes of e-methanol per year, has received a EUR-190-million (USD 203m) loan from a consortium of banks, including ING, Societe Generale, and others.<\/p>\n
The e-methanol project, located in the port of Aalborg, will utilize renewable energy from European Energy’s adjacent wind farm to power an electrolysis plant. The plant will split water into hydrogen and oxygen, with the hydrogen then being combined with carbon dioxide captured from a nearby biomass-fired power plant to produce e-methanol.<\/p>\n
The project is expected to reduce carbon emissions by approximately 110,000 tonnes per year, equivalent to taking around 50,000 cars off the road. The e-methanol produced will be used as a low-carbon fuel for the shipping and transportation industries, supporting the transition towards a more sustainable and environmentally friendly future.<\/p>\n
European Energy and Mitsui & Co Ltd formed a joint venture in 2020 to develop the e-methanol project, with European Energy serving as the project developer and Mitsui & Co Ltd providing its expertise in the development and operation of large-scale energy projects. The partnership aims to establish a leading position in the production and supply of e-methanol, a low-carbon fuel that can play a key role in reducing greenhouse gas emissions from the transportation sector.<\/p>\n
The debt financing for the project is a significant milestone, enabling the construction and operation of the e-methanol plant. The loan is backed by a guarantee from the Danish Export Credit Agency (EKF), which provides support to Danish companies and their partners involved in export-oriented projects.<\/p>\n
The e-methanol project is part of a larger trend towards the development of low-carbon fuels and chemicals, driven by increasing demand for sustainable and environmentally friendly products. The project demonstrates the potential for collaboration between companies and governments to drive the transition towards a more sustainable future, and is expected to serve as a model for future projects in the region. With the debt financing in place, construction on the e-methanol plant is expected to begin shortly, with production scheduled to start in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"
European Energy A\/S and Mitsui & Co Ltd have secured debt financing for their joint e-methanol project in Denmark. The project, which is expected to produce approximately 45,000 tonnes of e-methanol per year, has received a EUR-190-million (USD 203m) loan from a consortium of banks, including ING, Societe Generale, and others. The e-methanol project, located […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","fifu_image_url":"","fifu_image_alt":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-258290","post","type-post","status-publish","format-standard","hentry","category-solar"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/posts\/258290","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/comments?post=258290"}],"version-history":[{"count":0,"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/posts\/258290\/revisions"}],"wp:attachment":[{"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/media?parent=258290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/categories?post=258290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/smallnews.in\/renewables\/wp-json\/wp\/v2\/tags?post=258290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}