While we have all turned our attention to the news this year to watch our communities and economies struggle through the pandemic, nature continued to run its course, and more so than ever in the Nordic region.
While we have all turned our attention to the news this year to watch our communities and economies struggle through the pandemic, nature continued to run its course, and more so than ever in the Nordic region. With high winds across the entire Nordic area this year and some record winds and record low SPOT prices in Sweden and Finland as well (as Leon Lee from Kjeller Vindteknikk reports), Scandinavia has shown relentless growth in the renewable energy sector, mirrored by a global investment reaching over $300 billion.
In a year that has seen the World GDP fall by an estimated 5% and travel across borders almost completely shut down, it’s amazing to think that somehow, the renewable energy transition continued in full force. If we are to include electric vehicles, charging infrastructure, batteries, hydrogen, and carbon capture in the energy transition investment figure, then that total exceeds half a trillion dollars in a single year, amidst a global pandemic!
Sat here at the start of 2021 (despite having my usual Christmas festivities ruined by the pandemic) I am filled with positivity for the year ahead and what climate goals can be achieved. This last year we have watched huge developments and productions in onshore and offshore wind power, research and implementation in solar, floating wind, hydrogen, and carbon capture technologies, as well as the construction of giga-factories for electric automotive battery production and some excellent lobbying efforts for renewables.
Sweden, similarly, to its Scandinavian sisters Norway, Denmark, and Finland, has been flying the flag globally for the renewable energy transition, and I believe it's now a perfect time to reflect on some of the milestones achieved and gear up for an amazing year ahead in 2021. So without further ado, let's take a look at some of the key highlights from the year and what challenges we have to tackle as a collective for the year ahead.
And if these 10 highlights aren't enough to amaze you, then it's worth considering the Globalization of Scandinavian technologies and developments, the hundreds of new entrants into the Scandinavian renewable sector, from across Europe, Africa, China, and the USA, and the massive increase in local-level solar panel installations across the entire Nordic region.
Repeating the success of last year, we can expect the wind sector to once again reach new records this year. Globally, we can expect approximately 80GW of wind power to be added to our outputs (the majority on-shore and about 10% in off-shore installation). In Sweden however, the offshore market is just getting started with huge movements from the likes of OX2, WPD, RWE, Svea Vind and Orsted.
With this overall growth, we can expect seven countries in Europe to exceed the 1GW mark of onshore wind installations this year. Perhaps even more impressively though, the 10% of totally new installations in offshore wind, represent a 33% growth in that sector alone from the previous year!
While the onshore wind may not achieve the same growth as solar and offshore, it will continue to provide much-needed energy and the major challenge for the year ahead will be championing its value to the grid. With widespread inhabitants in large landscapes in the Nordics, the grid must be made more efficient, hybridization must occur offshore to ensure the energy is transferred to the south effectively, and the electricity prices must be made consistent by an efficient grid, a large responsibility for this will, of course, fall far for ABB and Svenska Kraftnat in the year ahead.
I can wholeheartedly say that this is just the start of what can be achieved in Sweden, Norway, Finland, and Denmark which are already paving the way for the rest of the world to follow. I am thoroughly excited to be a part of the energy transition in Scandinavia and to support these companies with the talent and competence they need to make amazing changes happen. If you have experience in Hydrogen, wind power, or solar power across Europe, and you are looking for your next challenge, my partners are ready for you. From my position as a specialist in recruiting for this market, I would encourage anyone who is not excited to wake up and go to work on Monday morning to reconsider and explore their options.
The opportunity in the market is constantly growing, and I am happy to give time and information to anyone who wants to see how their career can change for the better this year. Please take a look at the open positions below and reach out to me via email at ao@thor-companies.com with what interests you!