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June 15, 2020

Modvion gets EU grant to develop wooden wind turbine tower

Swedish engineering and industrial design company Modvion has secured an EU grant for the development of commercial wooden wind turbine tower.

Swedish engineering and industrial design company Modvion has secured an EU grant for the development of commercial wooden wind turbine tower.

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The company has claimed SEK69m ($7.3m) of funds under the EU EIC Accelerator programme.

Modvion CEO Otto Lundman said: “This support from the EU is clear proof of the enormous potential of wooden wind turbine towers and it will help us develop as a company at an even faster pace. We are now one step closer to being able to offer commercial, climate-neutral wind turbine towers.”

In a statement the company said the EU grant will be used to build a development facility in the Gothenburg area, where it will build the first tower with 100m height on a commercial scale for Varberg Energi.

It also said it has signed declarations of intent with Rabbalshede Kraft for ten towers, each with at least 150m in height.

Lundman further added: “That we are one of the few companies to receive grants in such fierce competition is a seal of quality.

“This financing creates security for us, our partners and potential investors. We can now focus on increasing the workforce, building a new development facility and constructing the first full-scale wooden wind turbine tower.

“We are seeing an enormous demand for our wooden wind turbine towers. Laminated wood is stronger than steel at the same weight and by building modularly, wind turbines can be made both higher and at a lower cost. Building in wood also radically reduces carbon dioxide emissions, allowing us to offer climate-neutral wind energy.”

In April, Modvion installed its first wooden tower on the island of Björkö outside Gothenburg, which was ordered by the Swedish Wind Power Technology Centre at Chalmers University of Technology.

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Free Report
img

Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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