The company S.C. Nordic in Løgstrup in Central Denmark has developed a solution that reduces the climate footprint of electricity production by integrating renewable energy sources into the electricity grid and reducing the need for fossil peak-load power plants. Nefco – the Nordic Green Bank has entered into a loan agreement with S.C. Nordic, paving the way for the company's international expansion and sales of grid balancing services to transmission operators (TSOs) similar to Energinet in Denmark in the other Nordic countries. Nefco writes in a press release.
Electricity consumption in the EU is expected to grow by more than 60 percent by 2050. This means that system services for balancing the electricity grid will have an increasingly greater importance in ensuring stability. The importance of efficient balancing is further emphasized by the growing share of renewable energy sources. System services help maintain the balance between electricity production and consumption and reduce the load on the electricity grid.
- We are pleased with our collaboration with S.C. Nordic. Solutions that balance the electricity grid are crucial for decarbonizing and electrifying a number of different industries. Therefore, they are necessary to accelerate the green transition, says Bo Eske Nyhus, Investment Director at Nefco.
S.C. Nordic gives small and medium-sized companies the opportunity to contribute to the market for system services and grid balancing – something that was previously reserved for larger companies. By entering into a collaboration with S.C. Nordic, companies in all sectors that own smaller machinery and plants connected to the national electricity grid can participate indirectly in the system services market. This allows companies to earn extra money on the equipment they already have, while at the same time contributing to greater environmental sustainability. The solution is aimed at all sectors and can bring together several smaller plants, which individually would not have a large effect, but which together can make a real difference.
S.C. Nordic is headquartered in Løgstrup in Central Denmark. The company cooperates with the Danish TSO Energinet and has completed more than 75 projects with a total regulation capacity of 50 MW. With the financing from Nefco, S.C. Nordic is ready to expand and market its balancing solution to TSOs outside Denmark. The company is already in the process of introducing the technology to the Swedish market.
- The financing from Nefco is crucial for our growth. Our goal is to expand by offering the technology to other operators in Europe and strengthen our position as a strategic partner. Internationalization has begun, first in Sweden and then in the other Nordic countries. We will use the same operational platform to optimize grid balancing throughout the Nordic region, says CEO of S.C. Nordic Mogens Birkelund.
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