The Danish Energy Agency and EKF are starting a collaboration to promote the green transition in the rest of the world
A new cooperation agreement between the Danish Energy Agency and EKF intends to disseminate Denmark's experience with green transition to the rest of the world, while opening new markets for Danish exporters of climate-related technologies.
The Danish Energy Agency and EKF Denmark's Export Credit Agency have just entered into a new cooperation agreement. The aim is to disseminate Danish experience within green transition in the energy sector so as to accelerate the global green transition and improve the competitiveness of Danish solutions against solutions from other countries.
”Denmark is a leader in green technology, and there is a huge potential in spreading the knowledge we have to other countries. By combining EKF's experience on the establishment and financing of green projects with the Danish Energy Agency's knowledge of how the authorities can establish the best possible conditions for such a transition, Danish companies will be in an even better position to contribute towards the reduction of the world's CO2 emissions. At the same time, they will create and retain Danish jobs," say, Kirstine Damkjær. EKF's CEO.
Facts concerning the collaboration
The collaboration will focus on Danish solutions within the areas of wind, district heating and energy efficiency, and it will focus on the following countries:
- Vietnam (offshore wind energy)
- South Korea (offshore wind energy)
- Turkey (district heating and offshore wind energy)
- India (offshore wind energy)
- Japan (offshore wind energy)
- Egypt (onshore wind energy)
- South Africa (selected areas in conjunction with a new national energy programme)
- Mexico (selected areas in conjunction with a new national energy programme)
- Ukraine (district heating and onshore wind energy)
- USA (offshore wind energy)
The Danish Energy Agency and EKF are looking towards a number of countries where there is great potential for exporting Danish solutions within wind, district heating and energy efficiency.
"The general goal of the new collaboration is to reduce global CO2 emissions. We can do this by helping the authorities in other countries to realise the goals of the Paris Agreement and to get them to assume ownership of the green transition. The Danish Energy Agency contributes lots of knowledge on how the authorities can kick-start a sector. And once we have helped several countries to begin their green transition of the energy sector, and EKF has provided financing, Danish exporters of energy technology can contribute towards the realisation of political ambitions," says Kristoffer Böttzauw, Director General of the Danish Energy Agency.
Danish collaboration will kick-start the sector
In an ambitious green transition of the energy sector, it is imperative to establish the framework conditions in order to attract investment. And this is where an improved collaboration between the Danish Energy Agency and EKF can make a difference.
EKF has participated in the financing of 150 wind farms in 36 different countries and can offer both know-how and the risk financing necessary to ensure success of the projects. The Danish Energy Agency is in close cooperation with authorities all over the world to share Denmark's experience and to provide advice on the framework conditions for development with green energy and long-term energy planning.
Scaling up export with a new green foundation
Recently, EKF has helped plant the Danish flag in a new green market when Taiwan began establishing offshore wind farms using Danish wind turbines last year. And green Danish exporters recently gained better access to risk financing when the government launched Denmark´s Green Future Fund. With this occasion, EKF was granted 14 of the foundation's DKK 25 billion for increasing export of Danish climate solutions.
For example, this could involve Vietnam, which is aiming to significantly increase its percentage of energy consumption from sustainable energy sources in 2030. However, this would require extensive emphasis on green transition since the country's energy consumption is growing by 10-11 percent per year.
Denmark is a leader in green technology, and there is a huge potential in spreading the knowledge we have to other countries
In particular, the green transition should be fuelled by offshore wind and energy-efficient solutions in the industry. According to the Danish Energy Agency's most recent calculations in ”Vietnam Energy Outlook 2019”, Vietnam can save up to 370 billion tonnes of CO2 emissions per year leading up to 2050, compared to existing climate plans. This is the equivalent to 10 times Denmark's current emissions from energy consumption.
”The Danish Energy Agency has special competences within offshore wind energy. In particular, this applies to planning, our one-stop-shop approach, regulation and tenders. For instance, we are about to launch a new five-year programme in our cooperation with the authorities in Vietnam, where we have already provided a number of recommendations concerning offshore wind. This is where EKF, with their special knowledge on financing major wind projects, can improve the value of the collaborations of Danish authorities, benefitting the green transition as well as Danish export," says Kristoffer Böttzauw. Kirstine Damkjær agrees, stating:
”With the DKK 14 billion, we can significantly improve the financing we provide towards the export of green Danish technologies. If the Danish Energy Agency and EKF can enable a country like Vietnam to act on their ambitions concerning wind energy, it would not only result in measurable CO2 reduction, it would also open an exiting market to Danish exporters. The potential here is huge,” she says