Ørsted takes final investment decision on FlagshipONE e-methanol project

In Denmark, Ørsted’s Board of Directors has taken final investment decision on the FlagshipONE e-methanol project. FlagshipONE will be Ørsted’s first commercial-scale Power-to-X facility.  Ørsted also said it has taken full ownership of FlagshipONE by acquiring the remaining 55 % stake in the project from Liquid Wind AB, the original developer of the project. Located in Örnsköldsvik in Northern Sweden, FlagshipONE is Europe’s largest FID’ed green e-methanol facility. FlagshipONE is expected to enter into operation in 2025 and will produce around 50,000 tons of e-methanol each year. Ørsted will start onsite construction of FlagshipONE in the spring of 2023. The project will be located on the grounds of the biomass-fired combined heat and power plant Hörneborgsverket in Örnsköldsvik, operated by Övik Energi.

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