Danske Commodities and Solar Park Kasso sign agreement to optimise world’s largest commercial Power-to-X facility
SPK has selected Danske Commodities as its electricity optimisation partner for the Kassø Power-to-X facility located in Southern Denmark, according to the company's release. SPK is a joint venture company co-owned by European Energy (51% stake) and the Japanese trading and investment company Mitsui (49% stake). The groundbreaking Power-to-X facility is developed by European Energy and owned by SPK. With a capacity to produce 32,000 tonnes of e-methanol a year, Kassø Power-to-X facility is set to become the world’s largest commercial Power-to-X facility when it becomes operational later this year.
Under the agreement, Danske Commodities will provide electricity balancing and optimisation of the Power-to-X facility by managing the consumption of power needed to produce e-methanol.
The Kassø Power-to-X facility is located next to the 304 MW Kassø solar farm, which is the biggest solar farm in the Nordics with an output that is equivalent to the electricity consumption of more than 80,000 European households. The Kassø solar farm is also owned by SPK, and Danske Commodities has been balance responsible party (BRP) for the solar farm since 2022. This responsibility will now include the Power-to-X facility as Danske Commodities will manage both the production from the solar farm and the consumption of the Power-to-X facility.
This responsibility means that when the solar farm produces more power than the Power-to-X facility needs, the surplus power will be made available to other consumers and sold in the market. In turn, when the Power-to-X facility needs more power than the solar farm can produce, the needed power will be purchased in the spot market in the most cost-efficient hours.
Through the optimisation agreement, SPK and Danske Commodities optimise the energy production and consumption of the Kassø assets while providing much needed flexibility to the energy market.
Danske Commodities is an energy trading company that specialises in power and gas trading and offers balancing, optimisation and hedging services to energy producers and suppliers. Every day, the company completes more than 35,000 trades across 42 countries, constantly moving energy from where there is more than needed to where it is needed most. Danske Commodities is a wholly-owned subsidiary to Norwegian energy company Equinor, operating under its own name and brand.
European Energy was founded in 2004 in Copenhagen. The company develops and constructs renewable energy projects across the world. European Energy owns more than 1,4 GW of renewable energy projects and has more than 60 GW of renewable energy projects in its pipeline in 28 countries.
Mitsui is a global trading and investment company with a presence in more than 60 countries and a diverse business portfolio covering a wide range of industries. Mitsui has set three key strategic initiatives for its current Medium-term Management Plan: supporting industries to grow and evolve with stable supplies of resources and materials, and providing infrastructure; promoting a global transition to low-carbon and renewable energy; and empowering people to lead healthy lives through the delivery of quality healthcare and access to good nutrition.
