Port of Esbjerg gets investments of over $1 billion for green projects
The Port of Esbjerg has entered an agreement with Danish pension firm PensionDanmark for investments of up to DKK 7 billion (over $1 billion) to facilitate the port’s “green transition.”
PHOTO: East port of the Port of Esbjerg. Port of Esbjerg
Majority of the investment – around DKK 5.8 billion ($856 million) – will be utilised for the expansion of offshore wind activities, with plans for development of 134 gigawatts (GW) capacity facility by 2030 and 300 GW by 2050. The construction of facilities for production of offshore wind turbines is expected to be completed in 2027.
The port, which is situated on the southwest coast of Jutland in Denmark, has earmarked around DKK 700 million ($103 million) for development of terminals to handle power-to-x and carbon capture and storage (CCS). Power-to-x is a collective term for conversion technologies that turn electricity into carbon-neutral synthetic fuels, such as hydrogen and synthetic natural gas. These terminals are expected to be ready by 2028.
With its location by the North Sea, the port can play a key role in offshore wind projects, "as the North Sea can store 400 to 700 times more CO2 than Denmark needs, " PensionDanmark says.
Around DKK 500 million ($74 million) will be used to transform the port into a “multi-modal hub” - an interconnection of various transport modes to facilitate smooth exchange of goods.
The investment will also go towards developing “facilities for green fuels.”
“We would like to play in the development of green energy and CCS. Much more pace is needed for the green transition, and this requires enormous capacity,” Port of Esbjerg’s port director Dennis Jul Pedersen said.
Notably, global bunker supplier Monjasa signed an agreement with Copenhagen Infrastructure Partners (CIP) to provide logistics for supply of green ammonia from the upcoming HØST PtX Esbjerg production facility near the port of Esbjerg. The plant is forecast to produce 600,000 mt/year of green ammonia.
By Tuhin Roy
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