Japanese trading firm Mitsui has acquired a stake in Danish Kasso MidCo, an affiliate of Danish renewable energy firm European Energy.
Mitsui said on 6 July it had acquired a 49pc stake in Kasso MidCo for a undisclosed price. Kasso MidCo owns a solar power generation and e-methanol business through its wholly owned subsidiary Solar Park Kasso. Kasso produces e-methanol by synthesising green hydrogen made by feeding renewable-based electricity into an electrolyser and green carbon dioxide captured from biomass sources.
Kasso will produce e-methanol with capacity of 42,000 t/yr, utilising a solar power station with a capacity of 304MW. The facility will starts commercial operation in 2024, with Kasso having already signed supply agreements with Danish shipping firm AP Moeller-Maersk, Danish toy producer Lego and pharmaceutical company Novo Nordisk.
