Markets in Sweden

Sweden is very important market for Havgul clean energy AS for several reasons. Sweden is a market that has not grown to its full potential. Like Norway, it is a country with a long coast, windy mountains, and is relatively thinly populated, which is also beneficial for the development of wind power projects. Located next to Norway, Sweden has a similar culture, language, as well as political and organizational management.

Sweden has not developed much wind power to date, largely due to a lack of political will. However, this is likely to change considerably. Through the EU RES directive (a mandate to generate 20% of all power from renewable resources, reduce green house gas emissions by 20%, improve energy efficiency by 20% -- by the year 2020), Sweden must increase its share of renewable energy to 49%. This will include a considerable increase in wind power. The Swedish Wind Power Association indicates a target of 30 TWh by 2020.

Moreover, Sweden’s cooperation with Norway is strengthened by current negotiations regarding a common Norwegian-Swedish green certificate market.

Havgul clean energy AS is confident that Sweden – like Norway – has a bright future with excellent opportunities for growth over the next several years. And Havgul is poised to capture its share of profitable development projects.