The quintessential time to invest in Swedish energy
As Google, Facebook and other energy-intensive enterprises are raising server halls in Northern Sweden, local residents are raising concerns that the available power will suffice. Some worry that the renewable energy will not be enough for the companies’ own needs, while others speculate that the local citizenry will not receive enough. Curiously enough, the complete opposite is about to happen. As the network giants are increasing the demand for renewable energy, we can soon expect new investments in wind- sun- and hydropower. This is the time, and Northern Sweden the place, to invest in green energy. There are a few good reasons why:
Supply follows demand. As the request for renewable energy surges in Northern Sweden, an ample number of companies – Swedish and international, stand ready to initiate new energy projects. And the demand is already high. Facebook’s establishment in Luleå alone uses 1 full TWh of energy per year (the rest of Sweden’s industry consumes 55 TWh per year).1 Willing to meet the needs of this energy-intensive industry, investments have started to take place which boost the Nothern Swedish energy market.
More companies are on their way. The number of energy-intensive companies willing to establish server halls in Northern Sweden has grown over time. As the region is successfully hosting a few of Silicon Valley’s tech giants right now - helping them to decrease costs for cooling the servers - more companies are likely to follow.
The companies request renewable energy. The tech companies which have so far established server halls in Northern Sweden have done so CSR-consciously. Many regions in the world provide cold weather and low energy costs, but very few can simultaneously offer 100 % sustainable energy, generated from hydro- wind- and solar power. The new and established companies will thus not request fossil fuels to maintain operations. As investments in this region grow, so will thus the requests for green power.
Advokatfirman OEBERGS looks with confidence on the development which is taking place in Northern Sweden. Contrary to the fears among local citizens, the it-giants will not use up the local renewable power - they will increase them. This new power-intensive, environmentally conscius industry will hence enable renewable power to spread to more recipients, and to lower prices, than ever before. We are looking forward to being an integrated part in this development which makes the future of Northern Sweden look very bright.