Denmark’s GreenGo Planning to Build $8.8 Billion Green Energy Park
- January 25, 2023
- Posted by: Quatro Strategies
- Category: Cleantech
Danish renewables company GreenGo Energy said on Tuesday it was cooperating with a local municipality to build a green energy park worth 60 billion Danish crowns ($8.77 billion). The company said it would cooperate with the Danish municipality of Ringkobing-Skjern in the country’s west to develop the 4 GW solar and wind energy for green fuel production to help the country curb carbon emissions.
The project, called Megaton, could become operational before 2030 and GreenGo aims to produce 1 million tonnes of green fuel from the project including hydrogen, by converting renewable energy through electrolysis.
Green fuels are seen as key to achieve the global climate goals for 2050 and GreenGo believes they will also help Denmark to achieve its 2030 goal of a 70% reduction in CO2 emissions.
The total of 4 GW planned capacity will come from GreenGo’s existing solar and wind projects in the municipality, in addition to 2 GW of offshore wind it plans to develop, although the final placement is yet to be decided.
Combined, these units will produce 11.5 TWh of green power annually, corresponding to more than 30% of Denmark’s current total power consumption, the company added.
The green fuel production will consume 85% of the expected power generation, GreenGo further stated.
Meanwhile, the project will also provide more than 1 TWh of surplus heat to the district’s heating system, with further spare heat and power intended for industries such as greenhouses or vertical farms.
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