In Sweden, municipal energy company Stockholm Exergi AB has announced that it will go ahead and invest around SEK 13 billion (≈ EUR 1.2 billion) to build one of the world's largest facilities for the capture and permanent storage of biogenic carbon dioxide – bioenergy with carbon capture and storage (BECCS).
The investment decision is a milestone to enable permanent negative emissions and will contribute to Sweden and the EU reaching its long-term climate goals.
With the decision, Stockholm Exergi is starting the construction phase immediately with the goal of having the bioenergy with carbon capture and storage (BECCS) facility operational in 2028.
This is a historic moment for Stockholm Exergi and for the climate transition. We have worked purposefully for many years to enable BECCS and today’s decision means that we are now moving from plan to reality. With this, we are taking a global leadership role in the negative emissions industry, said Anders Egelrud, CEO of Stockholm Exergi.
Public and private funding
The investment decision is made possible through a combination of public support and private purchases of certificates for negative emissions from companies with high climate ambitions.
The BECCS facility will be built in the Energy Port near Värtaverket in Stockholm. When completed, it will capture and permanently store 800,000 tonnes of biogenic carbon dioxide (bioCO2) per year, which is more than Stockholm’s road traffic emits annually.
Proven technology
The technology for capturing carbon dioxide has been used since the 1970s, and Stockholm Exergi has had a pilot plant in operation since 2019.
The storage of the carbon dioxide is also based on well-proven technology, and is closely monitored to ensure that the carbon dioxide is permanently stored in the bedrock under the seabed where it mineralizes over time.
The investment decision is a milestone that reflects years of dedication, perseverance, and collaboration. Big congratulations to the team at Stockholm Exergi, whose commitment, together with our partners, has made this groundbreaking project a reality. BECCS will play a crucial role on the path to net-zero emissions, and we are very proud to support an initiative of global importance, said Carlo Maddalena, Senior Director at APG and Chairman of Ankhiale.
Almost 120 years after the inauguration of the Värtaverket heat and power plant, Stockholm Exergi continues to deliver heat and electricity. Going forward, it will soon be able to reduce the carbon dioxide content in the atmosphere.
Stockholm is leading the way in climate work both nationally and internationally. In combination with emission reductions, BECCS will be a crucial part of the work to achieve the goal of making Stockholm a climate-positive area by 2030. We must increase the pace of the transition, and we are determined to do so, said Emilia Bjuggren, Chairman of Stockholms Stadshus AB.
Stockholm Exergi has chosen Northern Lights as its partner for transport and storage.
The investment decision means that Northern Lights is now expanding its capacity, which is of great importance for future negative emissions projects, and is laying the foundation for what could become a completely new industry, with the potential to make the Nordic region and Europe world leaders in the field.
