Ørsted has taken a 45% stake in Liquid Wind’s large-scale FlagshipOne e-methanol project, currently in late-stage development in Örnsköldsvik, north-east Sweden.
The project will see new onshore wind farms developed to power FlagshipOne's 70MW electrolyser.
Although details for the wind farms are yet to be confirmed, Liquid Wind said each of its planned e-methanol projects will require up to 470GWh of renewable electricity a year to run the electrolysers.
The electrolyser then produces hydrogen. Combined with biogenic CO2, captured by the Hörneborgsverket combined heat and power plant located at the site, this will be used to produce 50,000 tonnes of e-methanol a year for the maritime sector.
While still subject to a final investment decision, which Ørsted said could happen this year, FlagshipOne is expected to be commissioned in 2024.
The project adds to Ørsted's growing hydrogen and Power-to-X project pipeline and builds on its ambition to be a leader in green fuels and renewable hydrogen.
Anders Nordstrøm, head of Ørsted’s hydrogen and Power-to-X activities, said: “By partnering with Liquid Wind on FlagshipOne, we’re entering one of the most promising and exciting projects to supply e-methanol at scale and drive the decarbonisation of maritime transport. With the right framework and societal support, FlagshipOne can become one of the world’s first large-scale e-methanol facilities.”
FlagshipOne is the first project in Liquid Wind's plan to build ten commercial-scale e-methanol facilities across Sweden by 2030 before expanding internationally.
Claes Fredriksson, CEO and Founder of Liquid Wind, said: "The interest from Ørsted is further evidence of the importance of electro-fuel. Our green fuel will become a dominant fuel for true decarbonisation in the hard-to-abate shipping sector, reducing CO2 emissions by more than 90%."