The road to the first sod-turning ceremony at European Energy's upcoming Power-to-X plant (PTX plant) in Kassø west of Aabenraa has become one step shorter.
The Danish Green Investment Fund (DGIF) has joined the project as a co-financing partner. DGIF is providing DKK 400 million to the project, European Energy said in a statement.
DGIF's financing is part of the total investment in the plant, which Jyske Bank is also co-financing. The financing will go towards the total capital investments in connection with the expansion of the PtX plant in Kassø, which with a capacity of 50 MW will be the largest e-methanol plant on a commercial basis in the world to date.
- We are very pleased that DGIF sees the same potential in green fuels, including e-methanol, as we do, says Knud Erik Andersen, CEO of European Energy.
According to the plan, commercial methanol production at the plant is to start in the second half of 2023
Gets energy from Europe's largest solar park
DGIF aims to co-finance investments that promote a green transition of Danish society.
- We see great potential in the plant, which is a step towards scaling PtX technologies. The entire value chain is designed by, among other things, using CO2 when e-methanol is refined – and this can help meet the massive demand for electric fuels, says Michael Zöllner, Managing Partner at the Danish Green Investment Fund.
The upcoming PtX plant will be supplied with renewable energy from the nearby Kassø Solar Park, which European Energy has developed and built. The solar park is the largest solar park in Northern Europe to date with a capacity of 300 MW.
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