A €53m investment from the Danish Green Investment Fund will help move European Energy’s Danish e-methanol facility a step closer.
The company’s upcoming Power-to-X-facility (PtX-facility) in Kasso will be the largest e-methanol facility in the world to date.
The future PtX facility is supplied with renewable energy from the nearby Kasso Solar Park, which European Energy has developed and built.
The solar park is to date the largest solar park in Northern Europe with a capacity of 300MW. This corresponds to the solar park being able to supply 75,000 Danish households with green electricity.
The financing from the Danish Green Investment Fund’s financing is part of the total investment in the facility, which the Danish bank Jyske Bank is also co-financing.
“We see great potential in the facility, which is a step towards scaling PtX technologies. The entire value chain is conceived by, among other things, using CO2 when the e-methanol is to be refined – and this can help to meet the massive demand for electrofuels,” said Michael Zollner, Managing Partner at Denmark’s Green Investment Fund.
“We are very happy that DGIF sees the same potential in green fuels, including e-methanol, as we do,” said CEO of European Energy Knud Erik Andersen.