Nordic Green News – 31 August, 2020

Nordic Council of Ministers recovery focus includes sustainability agenda

The video conference of the Nordic Council of Ministers for Economic Affairs on 1 September 2020 will discuss the recovery of the business community from the corona crisis. Key agenda points are sustainable solutions, digitalisation, innovation and the circular economy, supporting the common goal of the Nordic countries to become the most sustainable and cohesive region in the world, by 2030.

Swedish PM inaugurates Hybrit steel project
Today, Hybrit’s pilot plant was opened. The inauguration was attended by, among others, Prime Minister Stefan Löfven (S), Deputy Prime Minister Isabella Lövin (MP), Martin Lindqvist, President and CEO of SSAB, Jan Moström, President and CEO of LKAB and Magnus Hall, President and CEO of Vattenfall. 

Finnish coal consumption decreased by 34% in January to June

According to Statistics Finland's preliminary data, coal consumption decreased by 34% in the first 6 months of 2020 compared with the corresponding period last year. Compared to the average of the last 5 years, coal consumption was 43% lower in the first half of 2020. 

Growth and profits in the first half of the year: European Energy defies corona

European Energy, a developer of wind and solar farms, and energy storage, finished 1H20 with a strong turnover of DKK 487 million, EBITDA of DKK 145 million and a net profit before tax of DKK 58 million. The primary driver of growth was increased sales of green energy. Electricity sales increased by 120% in 2Q20 compared with the same period in 2019. The sale of electricity from solar energy alone is 337% higher, at DKK 28 million. European Energy currently has 1,127 MW of solar and wind projects in the construction phase or ready for construction.