Rystad Energy identifies the Nordic countries as leaders in the green revolution offering solutions, with lessons for the rest of Europe as it looks to rapidly decarbonise its energy system. Almost 40 green hydrogen projects are poised to start-up in the region by 2030 or earlier, giving Denmark, Sweden and Finland a combined 18% of Europe’s electrolyser capacity for green hydrogen production.

Long considered pioneers in renewables, the Nordic region is preparing to further grow its renewable capacity and become a major powerhouse for Europe. Thanks to wind power, hydrogen electrolyser, nuclear power and carbon storage initiatives, Rystad Energy has identified Sweden, Finland and Denmark as leaders in the green revolution offering solutions, with lessons for the rest of Europe as it looks to rapidly decarbonise its energy system.

On onshore wind and utility scale solar PV generation, Rystad Energy expects capacity in these three countries to grow from a collective 30 gigawatts (GW) in 2022 to 74 GW by 2030. With electricity output expected to exceed their need, these countries will export large volumes of green power to Europe, helping provide the region with stable supply at low prices.

Almost 40 green hydrogen projects are poised to start-up in the region by 2030 or earlier, giving Denmark, Sweden and Finland a combined 18% of Europe’s electrolyser capacity for green hydrogen production. This, combined with Denmark’s potential to store carbon in the North Sea, will go a significant way towards helping Europe decarbonise heavy industries such as steel and cement.