Biofuels Market Set to Expand in Sweden
Reuters: Thursday 15th October 2009
The biofuel industry in Sweden is all set to expand primarily due to the new legislation on energy and climate strategy passed by the Swedish parliament.
The Swedish government intends to have its transport sector fossil fuel free by 2030.
The government is also planning to introduce a new legislation which would make 10% bioethanol blending and 7% biodiesel blending mandatory by July, 2010.
The European Parliament has mandated a minimum 10% blending target of biofuels with fossil fuels for the transportation sector by 2020. To achieve these ambitious objectives, numerous financial and tax incentives are being provided to boost the development of the biofuels industry in Sweden.
This legislation is expected to usher in a new era of growth for the biofuels industry in Sweden and is thus expected to enable the country to have zero net carbon emissions by 2050.
Discussion Area - Leave a Comment