As part of the opportunities offered by the green transition, UPM Energy is exploring development of wind and solar power projects mainly on land owned by UPM-Kymmene Corporation. Solar power development is being explored in Utti, Kouvola, and wind power in Western and Eastern Finland. These projects are at an early stage.
A coalition of industrialists and electricity companies have expressed concerns about a draft emission threshold below which hydrogen would be considered “green” under the EU’s sustainable finance taxonomy.
As it stands, the draft threshold is so low that it would shut the door to hydrogen produced from the power grid, even in places like France and the Nordic countries which have a low-carbon electricity mix, the coalition says.
Their worries are expressed in a letter sent on Thursday (11 March) to EU climate chief Frans Timmermans and other officials in the European Commission in charge of the internal market, financial services, and energy.