For this Scandinavian country, the natural foundation for a hydrogen economy, compared to many others in Central Europe, is rather good. Finland has sufficient renewable energy resources, an enormous amount of water sources at its disposal and competitive electricity prices. Of the electricity generated from renewables in 2021, the highest share in Finland was nuclear at 35.6%, but hydro with 22.5% constituted nearly one quarter. Wind with 12.5% was the third most significant renewable electricity source. Biomass closely followed with 10.3%. All this accompanied by an intensely developed and reliable energy transmission network and the technological and digital expertise to make power generation in Finland extremely efficient and low cost.
The German-American talks regarding a possible activation of Nord Stream 2 also specifically addressed Germany’s involvement in Ukraine. Ukraine, which fears economic disadvantages as a result of Nord Stream 2, is to receive support from the Federal Republic of Germany in the further development of its energy supply system. Or that was the plan, before Putin’s attack of the country. Due to the current war, it is completely open what the future will look like in Eastern Europe, including what the energy supply situation will be. In order to show what opportunities could arise after the, hopefully near, end of this invasion, we describe here the initial situation, as it still looked at the end of 2021.