Saipem announced that he had received from Stockholm Exergi, the energy company that manages the Stockholm energy district, the Full Notice to Proceed (Fntp) for the realization of an ambitious CO2 capture project on a large scale. The project will involve the existing Stockholm Exergi bio-cogeneration plant, located in Stockholm, Sweden, and aims to reduce biogenic carbon dioxide emissions coming from a biomass power plant.
The contract, worth approximately 600 million euro, includes the detailed engineering, procurement, construction and commissioning of the CO2 capture, storage and loading systems. The agreement is based on the successful completion of the initial engineering and procurement services, as per the Letter of Intent announced on July 26, 2023.
Decarbonisation targets
The heart of the project concerns the catch of approximately 800.000 tons of biogenic carbon dioxide per year from the cenergy generation planta biomass-fueled Värtaverket by Stockholm Exergi.
The plant, once completed and operational, will become one of the most advanced examples of carbon capture and storage on a large scale in the world. With the financial support of the European Innovation Fund and the reverse auction of the Swedish Energy Agency, the project is one of the most promising initiatives for decarbonisation in the energy sector, with a significant impact both at European and global level.
A strategic role in CO2 management
Saipem confirms itself as one of the main players in the energy transition, further consolidating its role as a facilitator in decarbonization. Thanks to the combination of engineering and technological skills, the company has acquired a privileged position in the Co2 management segment, covering all phases of the value chain, from capture to storage, up to movement by ships.
Furthermore, the project will contribute to develop one of the world's first models of Bioenergy with carbon capture and storage (Beccs), complementing reduced carbon emissions with negative emissions. This will allow the generation of carbon removal certificates, which can be traded on the voluntary market. This innovative approach represents a new frontier for the emissions market and a key strategy for the global commitment to carbon neutrality.
