Vattenfall and Kaunis Iron in a new partnership concerning electrified fossil-free mining operations

Vattenfall AB and Kaunis Iron AB have signed a letter of intent to develop fossil-free and electrified mining operations at the iron ore mine in Pajala. The collaboration means finding business solutions to reduce the need for fossil fuels in the mining operations. Here, future wind power projects such as Käymävaara and Selkävaara can play an important role. “We have high ambitions when it comes to not merely meeting the requirements already in place for sustainability. We have expressed our vision that we will supply the world’s most sustainable iron…

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Vattenfall to deliver renewable energy 24/7 to Microsoft´s Swedish datacenters

Vattenfall and Microsoft in Sweden piloted 24/7 Matching solution last year and are now intensifying the partnership as energy partners. The 24/7 Matching solution will be used in the new Microsoft datacenters in Sweden to measure renewable energy consumption per hour. Vattenfall will also deliver EPD (Environmental Product Declaration) labelled hydro and wind power 24/7 to the three datacenters in 2021. Microsoft globally has made a commitment to use 100 percent renewable energy in their buildings and datacenters by 2025. Vattenfall has a clear strategy to enable a fossil free…

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New joint industry programme launched to optimise the integration of offshore wind

A new joint industry programme launched by the Carbon Trust aims to maximise the contribution of offshore wind to a low cost, flexible, predictable and low carbon energy future. The Integrator programme has secured support from six major offshore wind farm developers: EnBW, Equinor, RWE, ScottishPower Renewables, Total and Vattenfall who will collaborate on a series of projects over the next year, as part of this first-of-a-kind, developer-led programme in this field.  The successful reduction in the levelised cost of energy (LCOE) of offshore wind has contributed to increased deployment…

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Vattenfall and Aker Carbon Capture to achieve negative emissions in bio CCS-projects

Vattenfall has signed a Memorandum of Understanding with Norwegian Aker Carbon Capture to accelerate the evaluation of future carbon capture plants in Sweden and Northern Europe. The agreement will support Vattenfall´s ambitions to achieve negative emissions in waste and bio CCS plants. “We look forward to cooperating with Aker Carbon Capture and together develop solutions for large-scale commercial bio-CCS plants in Sweden and Northern Europe. With Vattenfall´s extensive track record within sustainability for the energy sector and Aker Carbon Capture´s technology and experience in CO2 solutions, we believe we have…

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Vattenfall signs EUR 2 billion revolving credit facility with link to sustainability performance

On 5 November, Vattenfall AB signed a sustainability-linked multicurrency revolving credit facility of EUR 2 billion. The new credit facility replaces Vattenfall’s existing and undrawn EUR 2 billion revolving credit facility signed in 2014. The new facility, which is available for general corporate purposes, carries a three-year tenor with two one-year extension options. It is a committed bank loan facility that allows Vattenfall to borrow funds at short notice if needed. The margin is linked to Vattenfall´s CO2e emissions intensity target. Vattenfall’s 2030 CO2e emissions intensity target covers Scope 1…

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