Vattenfall Partners With Industrials to Invest in Swedish Fossil-Free Power
By Dominic Chopping
STOCKHOLM--Swedish state-owned utility Vattenfall and a joint venture of Nordic industrial companies will collaborate to explore investments in new fossil-free power production in Sweden.
Vattenfall and Industrikraft--a collaboration consisting of Alfa Laval, Boliden, SKF, Stora Enso and Volvo--will work on issues such as a framework for co-investment, identification of projects and feasibility in terms of permits, grid connections and profitability.
"It is estimated that Sweden will need to double its fossil-free electricity production in the coming decades to meet industry's and society's increased demand," the companies said in a joint statement Tuesday.
Work is now beginning on concrete measures to meet this demand, they said.
The agreement between Vattenfall and Industrikraft runs until further notice and covers all fossil-free power sources.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 20, 2024 08:45 ET (12:45 GMT)
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