Saipem has received approval from Stockholm Exergi to proceed with a large-scale carbon capture project in Sweden. This milestone follows the successful financial closure of the project, valued at about 600 million euros.
Under this contract, Saipem will manage engineering, procurement, construction, and commissioning of systems for capturing and storing carbon dioxide. These steps come after completing early engineering and procurement services that began with a Letter of Intent on July 26, 2023.
Once operational, the plant aims to capture 800,000 tonnes of biogenic carbon dioxide each year. It will extract this CO2 from the biomass-fueled Värtaverket power plant in Stockholm. This effort represents a significant move toward actively removing CO2 from the atmosphere.
Saipem is proud to support one of the world’s most important carbon capture projects. This role reinforces its commitment to helping Europe achieve decarbonization goals. The contract further establishes Saipem as a leader in CO2 management, highlighting its engineering and technological expertise.
Stockholm Exergi will also pioneer a Bioenergy with Carbon Capture and Storage (BECCS) model. With support from the European Innovation Fund and the Swedish Energy Agency, the project aims for reduced carbon emissions. It will also create Carbon Removal Certificates that can be traded in the voluntary market.
Together, Saipem and Stockholm Exergi are making significant strides toward a more sustainable future. This collaboration showcases the impact of innovation in addressing climate challenges.
