Vattenfall and Industrikraft in new collaboration for the electrification of Sweden
Vattenfall and industry collaboration Industrikraft have signed an agreement to identify and evaluate the conditions for joint investments in new fossil-free power production in Sweden. Work is now beginning on concrete measures to meet the demand with a supply that paves the way for Sweden's competitiveness as an industrial nation. The agreement between Vattenfall and Industrikraft runs until further notice and covers all fossil-free power sources.
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 for electricity in order to succeed with the transition. Demand is primarily driven by indirect electrification of industry, direct industrial electrification, and transport.
Vattenfall and the newly established industrial collaboration Industrikraft, which currently consists of Alfa Laval, Boliden, SKF, Stora Enso and the Volvo Group, will work together to investigate the conditions for joint investments in new electricity production. The collaboration includes issues such as a framework for co-investment, identification of projects and assessment of feasibility in terms of permits, grid connections and profitability.
New investments in electricity production are key to enabling the electrification of industry in Sweden and securing a balance between new industrial demand and new electricity supply. The collaboration includes all fossil-free power sources.
“Sufficient new electricity generation to ensure the competitiveness of Swedish companies has long been high on the agenda in our dialogue with industry. We look forward to working with Industrikraft to enable investments in new fossil-free electricity production, which is needed both in the short and long term. Vattenfall brings expertise about the energy market, the electricity system and the various types of power. Together, we can create the conditions for a healthy long-term investment climate,” says Anna Borg, President and CEO of Vattenfall.
“Industrikraft has been formed to support the work of shaping the future energy system in Sweden and a platform with Vattenfall will be important for advancing that work. As more of the Swedish industrial companies join Industrikraft, the co-operation agreement becomes of strategic importance for both parties,” says Tom Erixon, chairman of Industrikraft.
For further information please contact:
Magnus Kryssare, press officer Vattenfall, +46 76 769 56 07, magnus.kryssare@vattenfall.com
Patricia Kempff, External Relations, Industrikraft, tel. +46 73 360 60 60
Vattenfall's press office, +46 8 739 50 10, press@vattenfall.com
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