Ørsted does not expect to meet the production requirement in its state-funded CCS project, which will capture and store CO2 from the company's combined heat and power plants Avedøreværket and Asnæsværket. The project has received eight billion kroner in state support, but the company now estimates that the full capacity to capture and store 430,000 tons of CO2 annually over a 20-year period cannot be utilized in 2026. Ørsted thus states that the project will not be fully operational until later than planned. This is reported by Børsen.
"Since the project will not be fully operational until later this year, we do not expect to reach the full volume in 2026," Ørsted said in an email.
The delayed start-up means that Ørsted does not expect to store the first CO2 until spring or summer. Only then will the facility be fully utilized, which reduces the total amount of CO2 that can be stored in 2026. According to the agreement with the state, lower storage than agreed may trigger a fine. How large it will be depends on how much CO2 Ørsted manages to capture and store during the year. The CO2 from Ørsted's plant will be transported to Norway and stored at the Northern Lights facility in the North Sea.
In addition to problems with complying with the agreement Ørsted has entered into with the state, the company has also sold climate credits to Microsoft and Equinor, which can use the negative emissions in their own climate accounts. What Ørsted's delays will mean for these companies is not yet known.
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