June 3, 2021 Read More →

Northern Sweden emerging as hub for renewable industries

Reuters:

Long home to polluting industries, the hydro and wind power of Sweden’s far north is set to reduce the country’s carbon footprint as it lures low-emission manufacturers and creates thousands of jobs for those willing to brave the dark and cold.

Known internationally for reindeer and spectacular views of the Northern Lights, the region also has a surplus of cheap, renewable electricity needed by energy-intensive industries under pressure from shareholders and regulators to help curb global warming.

Planned investments, including the production of fossil-free steel and electric vehicle (EV) batteries, will exceed 1,000 billion crowns ($120 billion) in the next decade, Finance Minister Magdalena Andersson estimates.

“Job creation from the green transformation is not something that will happen in the future, it is happening in Sweden now,” she said in a presentation in May.

EVs are a major part of the European Union’s roadmap to reach net zero emissions by 2050.

[Simon Johnson]

More: Pulling power: the green lure of Sweden’s industrial far north

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