Westenergy refines waste into district heat, electricity and recovered materials

Westenergy, CPC Finland and Prime Capital plan a large-scale carbon capture plant

The parties entered into an agreement for the joint development, construction and operation of a carbon capture unit in the municipality of Mustasaari, Finland. The unit will capture CO2 from the flue gas generated by the existing Westenergy plant. The captured CO2 will be liquefied, and a large fraction will be transported to Kristinestad where it will be utilised at Prime Capital´s and CPC´s power-to-x site. The carbon capture operations will be managed by Westenergy. The total value of the investment is approximately EUR 138 million and the Ministry of Economic Affairs and Employment has granted a total of EUR 20 million of energy investment aid for the project.

Westenergy Oy, CPC Finland Oy and Prime Capital AG are pleased to announce the signing of an agreement to develop, construct and operate a full-scale carbon capture unit. Once built, the project will be one of the first of this scale. The carbon capture unit will strongly reduce the carbon footprint of the existing waste-to-energy plant, while providing Koppö Energia’s large-scale power-to-x project in Kristinestad, jointly owned by CPC and Prime Capital, with a reliable supply of CO2 to produce carbon neutral synthetic gas. The project will make a strong contribution to sustainable development and circular economy in Finland, by allowing the re-utilization of CO2 that would have otherwise been emitted.


The Ministry of Economic Affairs and Employment has announced their decision to support the project by granting energy investment aid. The grant will amount to EUR 20 million. The parties express their profound gratitude for the strong and committed support of the Finnish government in enabling this landmark investment to move forward, supporting industrial decarbonization as well as the growth of the Finnish power-to-x industry. Westenergy’s Managing Director Olli Alhoniemi comments that “This is great news for Westenergy, our partners and all of the stakeholders working towards a net-zero industry in our region and Finland. We thank the ministry and the government for the trust they have shown in our common project.”


Once operating, the unit will be able to capture practically all of Westenergy’s carbon dioxide. Out of this, ca. 150,000 tons of liquid CO2 per annum is destined for synthetic fuel production. This is equivalent to the annual carbon emissions of more than 20,000 persons. Additionally, around 30,000 tons per annum is estimated to be utilized by Westenergy for the manufacture of products permanently storing carbon dioxide, further accelerating the development of a new carbon recycling industry in the region.


The project benefits from the strong support and complementary expertise of its sponsors. Westenergy has specific knowledge of the site and underlying operations, as well as a strong local footprint and access to experts. CPC brings its unparalleled expertise in energy project development and management. Prime Capital will support the carbon capture project with its investment capacities and ability to raise project financing.


“We are honoured to partner with Westenergy and are very grateful for their trust. The carbon capture unit will play a pivotal role for the operations of our Kristinestad power-to-x plant, while marking a cornerstone to Westenergy´s sustainability strategy, says Mathias Bimberg, Head of Infrastructure at Prime Capital AG.


The agreement is a major advancement in our ambition to build Finland´s largest power-to-x plant to date. The development is making fast progress, and we are excited to cooperate with Westenergy. We are better equipped than ever to play our part in Finland´s path to becoming a global leader in sustainable fuel ” says Erik Trast, Managing Director of CPC Finland.


“Sustainability and decarbonization are at the forefront of Westenergy´s strategic agenda and form a major focus area for our owners and existing business partners as well as the Vaasa region. This state-of-the-art carbon capture unit will make our waste-to-energy plant the most modern plant of this type in the world. It is an additional motivation to provide CO2 to the power-to-x plant and to promote the production of carbon-neutral fuel in Finland.”, adds Olli Alhoniemi, Managing Director at Westenergy.


Development of the project is already at an advanced stage and the start of operation is expected in 2026.



About Westenergy:

Westenergy Ltd is a circular economy company which operates a waste-to-energy plant in Mustasaari. Westenergy is owned by seven municipal waste management companies covering a total of 70 municipalities in the western part of Finland. The company was founded in 2007 by Botniarosk, Lakeuden Etappi, Millespakka, Stormossen and Vestia to manage the energy recovery of source-separated non-recyclable municipal waste. Loimi-Hämeen Jätehuolto joined Westenergy’s owner companies in 2020 and Ekorosk in January 2023. Annually, the waste-to-energy plant processes up to 200 000 tons of waste delivered by the owners into district heating, electricity and recovered materials. Westenergy’s aim is to offer high-quality and cost-efficient service to all owner companies so that they can, in turn, offer a sustainable solution for non-recyclable waste to their clients – altogether some 670 000 people.



About CPC:

CPC Finland Oy specializes in the development, construction, and operation of wind farms and solar plants in Finland. As the fully owned subsidiary of CPC Germania GmbH & Co. KG, a Germany-based entity, CPC Finland has successfully constructed four wind farms with a total capacity exceeding 385 MW and is currently engaged in the construction of additional projects. The company boasts a robust development portfolio, surpassing 600 MW. CPC Germania, established in 1993, stands as one of Europe’s oldest wind energy companies, with a remarkable track record of over 50 projects and a cumulative capacity exceeding 1000 MW. Operating in Finland since 2011, CPC Finland is dedicated to advancing sustainable energy solutions in the region.



About Prime Capital:

Founded in 2006, Prime Capital AG is an independent asset management firm and financial services provider, owned by management and employees. The company takes a holistic, cross-divisional approach and specializes in Alternative Investments, in particular in Absolute Return, Infrastructure including Renewable Energies, and Private Debt. Furthermore, the company offers Access Solutions. Prime Capital was founded in 2006, currently employs about 130 people in Frankfurt and Luxembourg and is regulated by BaFin and CSSF.


As of September 2023, Prime Capital has approximately EUR 4.3 bn Assets under Management as well as EUR 8.5 bn Assets under Administration.




For additional information, quotes or requests please contact:


Westenergy Ltd

Olli Alhoniemi

Managing Director

Tel: +358505693337