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Norwegian and Swedish authorities recently said that an additional 18 terawatt-hours (TWh) of renewable energy generation capacity
will be completed by 2022 under the joint subsidy scheme.
According to the new monthly progress report, projects currently under construction total 7.
4 TWh in Norway and 10.
6 TWh
in Sweden.
These projects should start operations in time to meet the requirements of the Nordic countries' joint electricity certification scheme, which will be open
to new entrants from 1 January 2022.
According to the report, the initial goal of the plan is to build 46.
4 TWh of green power generation capacity, which already covers 41.
8 TWh projects, while 2.
2 TWh project construction has been completed but has not yet been officially licensed
.
A power certificate is a tradable commodity in its own right and mandatory for distributors, whose latest transaction price is SEK 3.
50 (US$0.
4346)
per MWh.
Prices have risen by 35% since the beginning of the month, driven by oversupply due to windy and wet weather in areas dominated by hydropower, and rushing to complete projects
by the 2022 deadline.
Over the next few years, the construction of onshore wind power is expected to slow
as local opposition increases, especially in Norway.
Norwegian and Swedish authorities recently said that an additional 18 terawatt-hours (TWh) of renewable energy generation capacity
will be completed by 2022 under the joint subsidy scheme.
According to the new monthly progress report, projects currently under construction total 7.
4 TWh in Norway and 10.
6 TWh
in Sweden.
These projects should start operations in time to meet the requirements of the Nordic countries' joint electricity certification scheme, which will be open
to new entrants from 1 January 2022.
According to the report, the initial goal of the plan is to build 46.
4 TWh of green power generation capacity, which already covers 41.
8 TWh projects, while 2.
2 TWh project construction has been completed but has not yet been officially licensed
.
A power certificate is a tradable commodity in its own right and mandatory for distributors, whose latest transaction price is SEK 3.
50 (US$0.
4346)
per MWh.
Prices have risen by 35% since the beginning of the month, driven by oversupply due to windy and wet weather in areas dominated by hydropower, and rushing to complete projects
by the 2022 deadline.
Over the next few years, the construction of onshore wind power is expected to slow
as local opposition increases, especially in Norway.
