In a recent press release, it was announced that VattenFall, a Swedish state-owned utility, entered a joint venture to explore investments in new fossil-free power production in Sweden.

The press release states that "Sweden is judged to need a doubling of fossil-free electricity production in the coming decades to meet industry's and society's increased demand for electricity in order to cope 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 jointly 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 with regard to permits, grid connection and profitability.

New investments in electricity production are the key to enabling the electrification of industry in Sweden and securing a balance between new industrial demand and new supply of electricity. The collaboration includes all fossil-free power sources.

Sufficient new electricity production to secure the competitiveness of Swedish companies is something that has long been high on the agenda in our dialogue with industry. We look forward to collaborating with Industrikraft to enable investments in new fossil-free electricity production, something that is needed both in the short and long term. Vattenfall brings expertise in the energy market, the electricity system and the various types of power. Together, we can create the conditions for a healthy and long-term investment climate. says Anna Borg, president and CEO of Vattenfall."

We'll keep you apprised of further developments.