Norlys invests DKK 250 million in GreenLab
With a new investment of DKK 250 million and an existing investment of DKK 85 million, Norlys is now the main owner of GreenLab. The investment will enable GreenLab to build the infrastructure necessary to put one of the world’s first large-scale Power-to-X facilities into operation. The goal is for GreenLab’s model to inspire others to build the green energy solutions of the future.
100 MW PtX ready for operation
Last year, GreenLab received an EU grant for building a 100 MW Power-to-X facility. A prerequisite for the grant is that GreenLab’s own supply network, the SymbiosisNet, is ready to both supply and receive energy. Norlys’ investment makes it possible for GreenLab to ensure just that by expanding the SymbiosisNet and doing the construction work needed to put Power-to-X and other green technologies into operation.
“In GreenLab, we are working on a model for creating a green and circular industrial park and at the same time create growth for the local community. The Norlys investment is crucial for us to be able to build the necessary infrastructure around our Power-to-X facility and the other green technologies we are working with”, says Christopher Sorensen, CEO in GreenLab.
Norlys throughout the value chain
Norlys will become the main owner of GreenLab, which will continue as a public-private partnership with the three remaining shareholders (Skive Municipality, Spar Vest Fonden, and Klimafonden Skive) and as a regulatory test zone.
Besides strengthening its ownership in GreenLab, Norlys owns the network company N1 that runs the electricity network around GreenLab, as well as half of Eurowind Energy, which owns the wind turbines that produce green power for GreenLab.
“In Norlys, the green transition is at the core of everything we do. We are present throughout the value chain from production to distribution. GreenLab is building the energy system of the future, and we are proud to be a part of that”, says Gert Vinther Jørgensen, CFO in Norlys. He continues, “We have made a long-term investment here, and it is an example of our commitment to sector coupling in the energy system of tomorrow. GreenLab is a model that we hope others will eventually copy, both in Denmark and abroad, when our energy systems transition in the future.
Energy storage and high-temperature heat
The Norlys investment will also be used for the establishment of large-scale energy storage of high-temperature heat, which will help attract new companies to GreenLab and replace the use of natural gas for the park’s existing companies.
“We look forward to building green solutions that have only existed in theory so far. It calls for big investments and a lot of courage to move in a greener direction, and with this investment, Norlys has once again proven that they are ready to walk the talk”, says Christopher Sorensen.
More local growth
The Norlys investment is not only good news for the green transition – the local community around GreenLab will also feel the support for the green industrial park. It is thus anticipated that the coming construction work and the increased potential for more companies in GreenLab will create growth and new jobs throughout the Skive area.