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Developing new power sources under the shadow of war

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Colin Ley reports on how uncertainty in Ukraine is having an impact on new investment in the region.

Surveying the future state of bioenergy in Scandinavia and the Baltics inevitably requires an assessment of what is happening right now in Ukraine and the threat that Russian aggression poses to the longer-term sovereign status of Finland, Sweden, Estonia, Latvia and Lithuania.

While each of those countries remains free and independent in mid-2022, the horrific transformation of personal and economic liberty in Ukraine since Russia’s invasion on February 24 casts a shadow over the whole of Scandinavia and the Baltics. Alongside the immediate challenge of soaring energy costs, disrupted supply chains and fractured trade routes, it would be a surprise if the possible future instability of the region did not deflect some investors from committing capital to business developments over the next few years, certainly when compared to what might have been expected prior to the outbreak of war a little over four months ago.

On the upside, Scandinavia and the Baltics have rich bioenergy resources and largely supportive governments. In addition,...

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