Saipem, an Italian energy and infrastructure engineering company, and Stockholm Exergi, the Swedish city’s power supply company, have signed a Letter of Intent to partner on the installation of a significant carbon capture plant at the current Exergi KVV8 facility in Stockholm.
As outlined in the Letter of Intent (LOI), Saipem will be responsible for the design, procurement, and building of the CCS plant, as well as the storage and transportation systems for the captured harmful emissions.
With extensive experience in construction, drilling, and engineering plans for large-scale projects, Saipem possesses valuable expertise that will be applied to the installation of the new facility.
As a result of the Exergi project, Stockholm will become home to Europe’s first industrial-size plant to generate “negative emissions”. This process will be incentivized with the issuance of Carbon Removal Certificates, allowing for their subsequent trading on the market.
The European Union has acknowledged the significant potential influence of this project and has provided financial support for its operations through the European Innovation Fund.
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The finished plant in Stockholm will be able to capture 800,000 tonnes of biogenic CO2 annually from the Värtaverket power plant. This is a significant breakthrough, as the plant’s ability to capture such a large amount of carbon dioxide highlights its efficiency and effectiveness in tackling the issue of greenhouse gas emissions.
Fabrizio Botta, Chief Commercial Officer at Saipem, shared that the company is pleased at the opportunity to collaborate and fully support Stockholm Exergi on the journey towards sustainability in Sweden and Europe. He goes on to add that this is a chance for Saipem to strengthen its position on the decarbonization market and expand in the field of CCS technologies.
The project is set to begin limited engineering tasks in accordance with the Letter of Intent while finalizing the main EPC Contract, scheduled to be signed in Q3 2023.
Read more: Mitsubishi Heavy To Work With Saipem On Carbon Capture Tech
