Energy prices in southern Sweden continued to increase during the third quarter. This is caused by several interacting factors, including an imbalance between supply and demand. During the third quarter, the winds also returned to Sweden.
Construction of Rabbalshede Kraft’s three wind farms and the coowned wind farm on Åland is progressing well with the projects remain roughly on budget and on schedule. We continue to focus on the development of new wind power projects and aim for new investment decisions in the same order of magnitude as in 2020 within a year. However, we see challenges with the deadlocks in the energy debate and especially around the expansion of wind power.
Inspired by VIND2021, it is clear that Swedish business stakeholders are ready with a number of initiatives and innovations that can make electrification and climate change possible. To achieve the goal of 100% renewable energy by 2040 and meet the ambitions of the industry and transport sectors to cope with this transition, we need courageous politicians who see the expansion of wind power as an important piece of the puzzle and a prerequisite for us to cope with the energy transition.
We see our investments in solar and green hydrogen as complementary markets that can further refine the green electricity from our wind power production. Solar is a growing market and green hydrogen is an enabler for the necessary interconnection of energy, industry and the transport sector. We are also looking at how we can develop flexible grid solutions needed to facilitate the interface between network owners and the developing industry.
During the third quarter we achieved a result that was better than expected, despite lower than normal production. Through being innovative, cooperating and taking responsibility we continue to power the renewable future.