Nordic Green News - 6 July, 2020

Norway continues to set the trends in e-vehicles

With overall car sales in Norway falling 24% compared to the same period of 2019, sales of battery electric cars fell by a less steep 19%, showing the robustness of the market sector. Sales of battery electric cars edged up to 48% of all new car registrations from January to the end of June, from 45% in the same period of 2019 and 42% in all of 2019. Norway has achieved this success via huge tax breaks, low road tolls and free parking,

 

The Financial Times asks if electric cars mean the end of the road for petrol stations, with a Boston Consulting Group study  finding that at least a quarter of petrol stations worldwide risk closure by 2035 without significant changes to their business models. Under BCG’s most aggressive scenario, 80% could shut. According to Christina Bu, secretary-general of the Norwegian Electric Vehicle Association. “Companies are coming to Norway to learn.” One British consultancy even offers fuel retailers what it calls Norwegian “retail safaris” where they can pay to tour petrol stations across Oslo.

 

Skandia to invest SEK 500m in Sustainability Goals

Skandia, a Swedish financial institution, announced that it will invest almost half a billion SEK in a new fund focused on micro-loans in developing countries. "Investment and lending have a clear link to several of the UN's goals for sustainable development such as poverty reduction, hunger, education, equality, good health, clean water and renewable energy," said Cecilia Sköld, Portfolio Manager and responsible at Skandia.      

 

Vattenfall gains approval for huge UK North Sea wind development

Vattenfall has received approval for two offshore wind farms built 30 miles off the coast of Norfolk, called Vanguard and Boreas. The windfarms will include 158 turbines and generate enough energy to power almost two million homes, creating a total of 400 jobs when work is at its peak. However, local campaigners are opposed to the development. Residents in Cawston, where the cable connection to the National Grid will pass, are concerned about the impact of heavy goods vehicles carrying cables through the village.

 

Seatwirl reports small loss

Seatwirl, the developer of a vertical floating wind-turbine, reported an operating loss of SEK 2.3m for the quarter. The company has no sales, as it is yet to commercialise its technology, which is expected to be sea-ready by 2022. During the quarter, Seatwirl received several patents in the US.

 

North Sweden Cleantech hub continues to develop

North Sweden Cleantech, which was established 4 years ago supports about 100 companies in the cleantech area. The hub has received continued support from the Swedish Growth Agency (Tillväxtverket). The project's budget is SEK 27 million over 3 years. The climate-smart innovation project aims to increase innovation activities in SMEs during 2019-2022, strengthening the development of innovation-support systems in the cleantech area. The hub is focusing on renewable energy, smart sustainable cities and bioeconomy, which are three key areas of strength for the region. The project has support from the Skellefteå, Umeå, Örnsköldsvik municipalities

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