Baku, Azerbaijan, April 4. The European
Investment Bank (EIB) has provided a 260 million euro loan to
Stockholm Exergi for the construction of Sweden’s first large-scale
bioenergy plant with carbon capture and storage (BECCS), Trend reports.
The Beccs Stockholm facility, located at Värtaverket, is
expected to start operations in 2028. It is projected to capture up
to 800,000 tonnes of carbon dioxide annually, which is more than
the total emissions from Stockholm’s road traffic in one year.
The BECCS technology will separate, liquefy, and permanently
store carbon dioxide produced from the combustion of biofuels,
resulting in negative emissions. The captured carbon dioxide will
be temporarily stored before being transported to Norway for
permanent storage under the North Sea, in collaboration with the
Northern Lights project—a joint venture between Equinor, Shell, and
TotalEnergies.
This is the first CCS project to receive EIB financing and marks
a significant step toward achieving global climate goals. Negative
emissions, considered essential to limiting global warming to
1.5°C, will also improve air quality in urban areas and bolster
Europe’s role in the climate transition.
EIB Vice President Thomas Östros highlighted Sweden’s leadership
in combining technological innovation with climate benefits. He
noted that supporting Beccs Stockholm aligns with the EIB’s climate
mission to enable negative emissions both in Europe and
globally.
Stockholm Exergi has also secured agreements for future
deliveries of negative emissions, including a major deal with
Microsoft, the largest such agreement globally to date.
Anders Egelrud, CEO of Stockholm Exergi, emphasized the
company’s ongoing collaboration with the EIB, which will help
establish one of the largest facilities for capturing and storing
biogenic carbon dioxide, contributing to the development of a new
green Nordic industry.