Norway makes record breaking success with a third of sales being electric
Norway has made notable success in the last year, as the government reports that a third of car sales were electric cars. This takes the nation closer to its 2025 goal of being free of fossil fuel cars. The plan was undertaken in order to reduce emissions and air pollution in Norway.
With over 148,000 fossil fuel cars sold in the last year, Oeyvind Solberg Thorsen, head of the Norwegian Road Federation (NRF), noted at the conference that this is “a small step closer to the 2025 goal.” The Norwegian government has provided many incentives to drive the nation’s transition to battery operated cars, such as tax exemption, free parking and charging stations.
According to the independent NRF, electric cars increased to 31.2% of revenue last year, from 20.8% in 2017 and just 5.5% in 2013. The most popular model in Norway over the last year was Nissan’s (7201.T) upgraded Leaf electric car. Other popular models included (BMWG.DE) and Volkswagens (VOWG_p.DE)
The International Energy Agency (IEA) shared that Norway’s share of hybrid cars was at 39% in 2017, with Iceland in second place with 12%. Though Norway’s 2025 goal is ambitious, it is likely to continue to hold the record of electric car sales per capita for some time.
Drax advances biomass strategy with Pinnacle acquisition
The Group’s enlarged supply chain will have access to 4.9 million tonnes of operational capacity from 2022. Of this total, 2.9 million tonnes are available for Drax’s self-supply requirements in 2022, which will rise to 3.4 million tonnes in 2027.
The £424 million acquisition of the Canadian biomass pellet producer supports Drax' ambition to be carbon negative by 2030, using bioenergy with carbon capture and storage (BECCS) and will make a "significant contribution" in the UK cutting emissions by 78% by 2035 (click here).
This summer Drax will undertake maintenance on its CfD(2) biomass unit, including a high-pressure turbine upgrade to reduce maintenance costs and improve thermal efficiency, contributing to lower generation costs for Drax Power Station.
In March, Drax secured Capacity Market agreements for its hydro and pumped storage assets worth around £10 million for delivery October 2024-September 2025.
The limitations on BECCS are not technology but supply, with every gigatonne of CO2 stored per year requiring approximately 30-40 million hectares of BECCS feedstock, according to the Global CCS Institute. Nonetheless, BECCS should be seen as an essential complement to the required, wide-scale deployment of CCS to meet climate change targets, it concludes.