Wedoany.com Report-Apr. 12, Saipem S.p.A., based in San Donato Milanese, Italy, has been fully authorized to proceed with a major CO2 capture project at Stockholm Exergi’s bio-cogeneration plant in Sweden. This follows the project’s successful financial closure. Valued at around 600 million euros, the contract covers detailed engineering, procurement, construction, and commissioning of systems for carbon capture, CO2 storage, and ship loading. These efforts build on earlier engineering and procurement work completed after a Letter of Intent was issued on July 26, 2023.

The initiative targets the Värtaverket power plant in Stockholm, which runs on biomass. Once completed, the facility will capture 800,000 tons of biogenic carbon dioxide each year. This process will remove CO2 from the atmosphere, supporting efforts to reduce environmental impact through bioenergy technology.

Saipem’s involvement strengthens its position in CO2 management across Europe. The company brings a blend of engineering expertise and technological skills to handle the full CO2 value chain. This project stands out as one of the world’s leading large-scale carbon capture efforts, highlighting Saipem’s contribution to sustainable energy solutions.

Stockholm Exergi, the project owner, has secured funding from the European Innovation Fund and the Swedish Energy Agency through a reverse auction. This support positions the company as a pioneer in Bioenergy with Carbon Capture and Storage (BECCS). The BECCS model not only cuts carbon dioxide emissions but also generates “negative emissions.” Stockholm Exergi plans to produce Carbon Removal Certificates from this process, which can be traded on the voluntary market, offering a new avenue for environmental and economic benefits.

The project focuses on capturing CO2 produced domestically at the Stockholm plant, with no direct link to exports or imports. It aligns with Sweden’s efforts to enhance sustainability while meeting local energy needs. Saipem’s role ensures the plant’s systems are designed and built to high standards, enabling efficient CO2 handling from capture to storage and transport.

This collaboration between Saipem and Stockholm Exergi marks a significant step in advancing carbon capture technology. The Värtaverket facility’s upgrade will play a key role in reducing atmospheric CO2, leveraging biomass energy to create a measurable environmental impact. As the project progresses, it reinforces the importance of innovative engineering in supporting cleaner energy systems across the region.