World / Europe Sweden to reach its 2030 renewable energy target this year BL PREMIUM

Stockholm — Swedish utilities and power generators have already installed so many wind turbines that the Nordic nation is on course to reach its 2030 renewable energy target late this year. By December, Sweden will have 3,681 wind turbines installed, lobby group Swedish Wind Energy Association estimates. Together with second-half investment decisions, this will be more than enough capacity to meet a target to add 18 terawatt-hours of new, renewable energy output by the end of next decade. Some new plants will be built by Norway, with which Sweden shares a renewable certificates market. The surge in new installations and investment decisions has become a concern for existing power producers, who rely on subsidies to make their projects financially viable. Forward prices in the renewable certificate market are 70% lower for 2021 than a year earlier because of all the new installations. "For Sweden to remain interesting for investors ahead of markets with higher revenues but greater po...