H&M’s Sellpy to enter two new EU markets
The H&M-owned second-hand platform Sellpy is expanding internationally into the Netherlands and Austria, with the help of H&M's existing operations. H&M began its investments in Sellpy in 2015, through its investment company CO: LAB, and has steadily grown its ownership in the company, becoming majority owner in 2019. In total, H&M has invested SEK 180 million into Sellpy. In 2019 the company reported sales growth of almost 70% to SEK 197 million.
Swedish Government commissions a national hydrogen strategy
The Swedish Government has instructed the Swedish Energy Agency to develop a proposal for an overall strategy for hydrogen. The goal of the strategy and proposed measures is to develop and take advantage of the opportunities with hydrogen and electric fuels and facilitate the transition to fossil-free. The assignment must be reported no later than 31 July 2021.
Note, last week Nordic Green News reported that Fossilfree Sweden had just published a hydrogen strategy. Whilst it is curious that the government would ask for a second version, it could be inferred that the Swedish Energy Agency needs to give an official blessing to something that has already been agreed.
Wind power grows to 10% of Finland's electricity consumption in 2020During 2020, more than 300MW of new wind power capacity was built in Finland, up by almost a third on 2019. About 10% of Finland’s electricity consumption in 2020 was already covered by wind power. The growth prospects for the wind power sector are staggering, with a record amount of wind power capacity expected to be completed in 2021, almost 1,000 MW, according to Anni Mikkonen, CEO of the Finnish Wind Power Association. Most of the wind turbines built in 2020 have been built on market terms, without state financial support.