Our aptitude for innovation and success with industrialization has changed Sweden from a small export-dependent country into the competitive nation that we are today.
Innovation and the electrification of society will be crucial if we are to continue being competitive in the future and manage the climate challenge. As has often been the case historically, it is our base industry that drives development and which will play a critical role in our switch to a climate-friendly society.
The industry of the future
A successful basic industry is the engine of the Swedish economy. An enormous energy transformation is currently underway - which is dependent on a stable electricity supply.
Development and innovation paving the way to becoming fossil-free
Swedish industry is facing a major challenge. The fact is that industry and the transport sector currently account for more than half of the emissions in Sweden. Therefore, if Sweden is to become climate-neutral by 2045, it is crucial to succeed with the electrification and digitalization of industry and the transport sector. In addition to innovative new solutions, a stable electricity supply is needed for our industrial companies to succeed in their transition to climate neutrality, while maintaining their global competitiveness.
If Sweden is to continue being one of the world’s best countries to live in, it is vital that Swedish industrial companies have the prerequisites for continued success.
What does the future hold for Swedish innovative industries? At Uniper, we are convinced that new technologies will allow for our transition to a fossil-free society, and enable our future industry to consist of a base industry with fossil-free production – everything from the steel industry to mining and the minerals sector. AI, robotization, automation and quantum computing will drive development forward and create new opportunities. The future is bright, when climate-neutrality, growth and prosperity go hand in hand.
Electrification is taking Sweden’s mining industry into the future
Sweden’s base industry is currently undergoing an enormous conversion process to prepare for climate-neutrality. Our industrial companies are working extremely hard to incorporate new technologies and innovations that can reduce carbon emissions. Everywhere, innovation projects are under way − all which are dependent on electricity.
One of the companies at the leading edge of electrifying mining operations is Boliden, which is also one of Sweden’s oldest metal companies. Boliden has contributed greatly to Sweden’s prosperity over the years and is now investing heavily in electrification and automation. Boliden has, through one of its many projects, developed autonomous mining trucks that connect to a contact line and switch over to electric power, just as with trains. This increases productivity and improves the work environment while reducing carbon emissions.
Access to stable electricity will be critical
In the next 30 years, electrification and digitalization will be fundamental prerequisites for industry to transition to fossil-free operations. Although this will present many opportunities, it will also entail major challenges to our electricity system and increase the demand for electricity throughout Sweden.
Historically, access to fossil-free, stable and competitively priced electricity has been the prerequisite for successful base industry – the engine of the Swedish economy. The transition will increase demand for stable fossil-free electricity.
By ensuring a stable and competitively priced electricity supply, our industrial companies can continue to be competitive in the long-term, and thereby take the step toward becoming fossil-free.
At Uniper, we believe that the electricity system of the future must be characterized by balance – in terms of technology and the economy. In practice, this means that we need to have a modern electricity system that utilizes all useful forms of power – stabilizing, balancing and weather-dependent – which can provide Sweden with the requisite fossil-free electricity every day of the year. Imbalances in the electricity system – electricity shortages, deteriorated power quality and an inadequate electricity grid – jeopardize the opportunities of base industry to transition to fossil-free operations and its willingness to invest.
The future is electric
A stable electricity supply is crucial to Sweden’s potential to achieve its climate goals and its future competitive capacity. We will need more fossil-free electricity in the future and a secure electricity supply system that everyone can rely on.
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More fossil-free electricity will be required in the future. By 2050, Sweden could need twice as much electricity as today – about 150 TWh more than today. How are we to succeed with this?
In line with the global climate goals, the Swedish parliament has decided that Sweden will have net zero emissions of carbon dioxide by 2045. For Sweden to achieve this goal, the electricity system must be developed at a rapid pace.
Nuclear power will be crucial part of the future electricity system. The nuclear power plants in Sweden today were built to last for a long time.