Stockholm Exergi’s NIB-Backed BECCS Project Advances Sustainability Goals

Stockholm Exergi’s NIB-Backed BECCS Project Advances Sustainability Goals

(IN BRIEF) Stockholm Exergi Holding AB, a major energy provider in Stockholm, plans to implement a Bio-energy with Carbon Capture and Storage (BECCS) project at its Värtaverket energy plant. This initiative aims to capture and store 800,000 tonnes of biogenic CO2 annually, significantly reducing emissions. The project, backed by the Nordic Investment Bank (NIB), utilizes hot potassium carbonate technology for CO2 capture and involves infrastructure upgrades for compression, liquefaction, and storage. Stockholm Exergi is seeking NIB financing, having completed an Environmental Impact Assessment and secured necessary permits for the project.

(PRESS RELEASE) HELSINKI, 22-Jun-2024 — /EuropaWire/ — The Nordic Investment Bank (NIB) is pleased to announce its consideration of financing a groundbreaking project with Stockholm Exergi, a leading energy provider in the Stockholm region. This initiative, set to revolutionize sustainable energy practices, involves the construction and operation of a Bio-energy with Carbon Capture and Storage (BECCS) facility at the Värtaverket energy plant.

Stockholm Exergi, which supplies district heating to over 800,000 residents in and around Stockholm, is renowned for its commitment to sustainability. An impressive 99% of its district heating system relies on renewable or recycled energy sources. The company, jointly owned by the City of Stockholm and Ankhiale, a consortium of European institutional investors, continues to lead in innovative energy solutions.

The proposed BECCS facility will capture carbon dioxide (CO2) from the KKV8 bio-cogeneration plant, leveraging hot potassium carbonate technology for post-combustion CO2 capture. With a boiler capacity of 400MW and a 2022 output of 365MW, this plant will be integral to reducing carbon emissions. The project includes the construction of facilities for CO2 compression, liquefaction, and temporary storage, necessitating the reconstruction of an existing quay to accommodate these needs.

Upon completion, the BECCS project is expected to reduce biogenic CO2 emissions by 800,000 tonnes annually, significantly contributing to atmospheric CO2 removal and supporting global climate goals.

Classified as a Category A project under NIB’s Sustainability Policy, this initiative will undergo public disclosure before a financing decision is made. An Environmental Impact Assessment (EIA) has been completed, and the necessary environmental permits have been secured, ensuring the project meets stringent environmental standards.

NIB is excited about the potential environmental benefits of this project and looks forward to the Board of Directors’ decision in November. This project underscores NIB’s commitment to financing sustainable and innovative energy solutions that address climate change challenges.

Country: Sweden

1. Borrower: Stockholm Exergi Holding AB
2. Sector: Public Sector & Utilities
3. Published for 30 days on: June 20, 2024

Planned date for decision by Board of Directors: November 8, 2024

Media Contact:

Per Ytterberg
Vice President Business Development, Stockholm Exergi
per.ytterberg@stockholmexergi.se

SOURCE: Nordic Investment Bank