Saipem and Stockholm Exergi sign LOI for large-scale CO2 capture plant

In Sweden, Saipem and Stockholm Exergi have signed a Letter of Intent for a large-scale CO2 capture plant to be installed at Stockholm Exergi’s existing bio-cogeneration plant located in the Swedish capital. Saipem’s scope of work covers the engineering, procurement and construction activities for the carbon capture unit, the CO2 storage as well as the ship loading systems for CO2 transportation.

In the meantime, the Letter of Intent allows the start of limited, engineering-related activities, while finalising the main terms of the EPC Contract expected to be signed in Q3 2023.

When completed, the plant will be able to capture 800,000 metric tons of biogenic carbon dioxide every year from the biomass-fuelled Värtaverket power plant in Stockholm, thus enabling a net removal of CO2 from the atmosphere, otherwise known as “negative emissions”.

Stockholm Exergi’s project, which received financial support from the European Innovation Fund, will be one of Europe’s first large-scale plants to generate “negative emissions”, leading to the issuing of Carbon Removal Certificates which can then be traded on the market.