Eurowind Energy is GreenLab’s powerhouse and ready to transform the energy market
This article kicks off a series of articles that will introduce you to some of GreenLab’s P2X partners. We thought it made sense to start at the very beginning – with the company that produces the green power that goes into GreenLab and is subsequently transformed into electrofuels. That company is Eurowind Energy, and they are heavily invested in P2X technology for more than one reason. Find out more below.
1300 MW and more coming up
Eurowind Energy is a Danish company which started out by investing in 12 wind turbines in Denmark more than 20 years ago, and which now develops, builds, operates, and manages wind- and solar parks all over Europe.
Their portfolio comprises more than 1300 MW, and Eurowind Energy owns approximately half of that. 7000 additional MW are being developed at this moment, and each year, Eurowind Energy builds hundreds of MW of new renewable capacity to the benefit of European consumers and the environment.
We sat down with Jens Rasmussen, CEO in Eurowind Energy, for a talk about how the energy markets are changing and how he sees Eurowind Energy’s role in the big picture – and in GreenLab.
P2X is a green way
of reshaping the energy market
Eurowind Energy’s engagement in GreenLab and P2X technology is of course about solving the sustainability challenge posed by fossil fuels. But it is also about addressing the changes that are happening in the energy markets, as renewable energy takes more market shares.
“Energy markets are run by a classical supply-and-demand-mechanism, and one consequence is that prices are sensible to fluctuations in power production”, Jens Rasmussen explains. “When the wind is strong, lots of power is produced from the many wind parks around the country. That means supply increases and puts a downward pressure on prices.
However, with an efficient P2X set-up, it is possible to channel the surplus power produced on the days with strong wind into electrofuels – and that means we can store the power or convert it into alternative fuels. It can then be used when it is needed – for both industrial purposes and heavy transport – and that increases flexibility on the offtake side. This has a stabilizing effect on power prices when implemented on a large scale. So, in essence, Eurowind Energy’s engagement in P2X is about two things: positively influencing tomorrow’s energy markets and supporting the transition to alternative fuels and a carbon neutral economy.”.
Not just GreenLab’s power cable
Their extensive experience with international energy projects makes Eurowind Energy a great consultant on contractual structures and project models for GreenLab. But their main role is to ensure the financing, development and management of a full-scale solution for sustainable power supply to the industrial park.
“We put our experiences to good use in the realization of this important P2X project”, Jens Rasmussen says. “We do so partly by developing, constructing and managing the wind- and solar parks, which deliver competitive renewable power to the facilities, and partly by supporting the partners in making informed decisions on its interaction with the energy markets. We believe that together with a group of highly capable partners, we will create an important offset for furthering the commercial viability and expansion of alternative fuels to the benefit of our environment and the economy.”
The project delivers 200 GWh/year – 55 MW from wind and 25-30 MW from solar power. In comparison, Denmark’s largest onshore wind park delivers 262 GWh/year (this park is also powered by Eurowind Energy)
Why GreenLab and P2X?
Eurowind Energy sees this project as something that can show the potential of P2X technology in the industry – and the many partners in GreenLab can help promote the green agenda politically from different angles.
Effect on the energy market
P2X has the potential of stabilizing the energy markets, inspiring new business models, and supporting the green transition.