Sweden, Norway, Finland, and Denmark countries are among the leading European developers of renewable energy. In 2018, Norway and Sweden accounted for over half of the PPAs agreed upon in Europe. In recent years, the growth in Scandinavian countries is considered mature compared to the rapid growth seen in Portugal, Spain, and France. One Scandinavian bucking this trend is Finland, which had its strongest year in 2030 with 431MW of projects developed for PPAs. In this article, we will discuss the 3 largest renewable energy developers in Scandinavia.
1) Alight – Solar and Storage developer based in Stockholm
Alight is a specialist in solar project development, and operation and has its own in-house team dedicated to negotiating the best PPAs for the company. The Stockholm-based group was founded in 2013 and by 2030 the group aims to have an installed capacity of 5GW tied to PPAs. Currently, Alight is developing over 1GW of PPA projects in Sweden with an additional 170MW spread across various European projects. In 2022, Alight announced a partnership with French green energy developer Neoen to develop Sweden’s largest solar PPA to date. The 90MW plant will undergo construction in the second half of 2023 and will provide energy to Swedish clothing giant H&M.
2) Emergy – Wind and solar developer based in Oslo
Emergy boasts an impressive wind and solar portfolio, the group is aiming to accelerate its position in Southeast Europe. By 2026, Emergy hopes to have an installed capacity of 1.3GW with the majority of projects located in this region. Currently, the Norwegian group has developed projects in Serbia, Greece, Romania, and Ukraine.
3) Fortum – Wind, solar and hydro developer based in Espoo, Finland
Fortum was founded with the sole purpose to the drive the transition to renewable energy sources and curbing climate change. The Finnish group is the third largest producer of CO2-free power in Europe according to vice president, Mats Persson. In 2022, Fortum announced a PPA with chemical manufacturer Borealis providing 800GWh per year from two wind projects developed by the Finnish group. The 8-year PPA will begin when construction is completed in 2024.
Image Source: Abby Anaday via Unsplash (09.02.2023)