Japanese conglomerate Mitsui has secured the acquisition of a 49% stake in Kassø Midco, the owner of the combined 304MW solar plant and e-methanol facility in Kassø in the municipality of Aabenraa, Denmark, from European Energy.
The transaction was announced in July this year and concluded after securing clearances from both Danish and European authorities.
The Kassø solar farm has been operating since the first half of this year. Considered to be one of the largest in the Nordics, it generates enough clean energy to power more than 80,000 European households.
The Kassø e-methanol facility is presently under construction and is expected to be operational in the first half of next year. The entire electrolyser with a capacity of 52MW is due to be installed later this year.
This facility will produce low-carbon methanol by synthesising green hydrogen produced by feeding renewable-based electricity into an electrolyser and green carbon dioxide (CO₂) captured from biomass sources. It will have an annual production capacity of up to 42,000 tonnes.
Once built, the e-methanol from the facility will be supplied to offtakers from three different sectors, including Maersk, Novo Nordisk and the LEGO Group. The supply will allow them to replace fossil fuel-based products resulting in CO₂ emissions.
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Furthermore, the e-methanol facility will generate excess heat that can be used to provide district heating for around 2,500 local households.
Mitsui managing officer, basic materials business unit chief operating officer Junji Fukuoka said: “We are looking forward to working with European Energy at the world’s largest commercial scale e-methanol facility located in Denmark. Global energy transition is one of key strategic initiatives for Mitsui, thus we are excited to commence this new business opportunity with European Energy in light of global climate action.”
European Energy and Mitsui said that their partnership can create opportunities to further develop sustainable e-methanol projects based on renewable energy.
European Energy CEO Knud Erik Andersen said: “It has been a fruitful process with Mitsui, and we are confident that our partnership will set new standards for how the e-methanol market can be developed to meet the strong demand.”