Invest in Norrbotten

Luleå Energi blows millions on renewable electricity

Norrbotten is the cradle of Swedish renewable energy. For example, xx per cent of the nation’s total energy production comes from here and it is derived from eco-friendly hydro-electric power. Norrbotten is also a long way ahead in the construction of wind power. A wind farm comprising over 1,000 wind turbines is planned for Markbygden outside Piteå. If the entire project becomes reality it will be an investment of SEK 50 billion.

Wind power on a smaller scale, but just as environmentally supportive and socio-economically acceptable, is Luleå Energi’s investment in renewable energy. The company has already invested SEK 6 million for a 27 per cent stake in Kalix Vindkraft. Luleå Energi is currently planning the construction of nine wind turbines on the Playa Plannja industrial estate next door to SSAB in Luleå. In total the investment amounts to around SEK 250 million.

“We have a positive view toward wind power from two perspectives, partly because we can continue to offer our customers electricity at competitive prices, and partly because we can supply renewable energy and reduce the need for fossil fuels in the Scandinavian system,” says Erik Lundström at Luleå Energi.
If management runs smoothly in every department we expect wind turbine construction to begin during 2011. We hope that nine turbines will generate 40 GWh per year, which corresponds to around one fifth of Luleå’s total annual energy consumption.”

“We are also reviewing the opportunities for Luleå’s inhabitants to purchase shares in locally produced wind power and in this way reduce the cost of their electricity consumption. This is perfectly in keeping with Luleå Energi’s endeavour to become a prime mover for its customers and society. We are currently evaluating how shareholdings can be structured to provide maximum customer benefit,” says Erik Lundström.