Finland is a Nordic country in the far north of Europe. It borders Russia and Sweden and is the most sparsely populated country in Europe. It has no natural coal resources, some hydropower capabilities, and a lot of forest. One-third of its energy comes from renewable sources (wood, hydropower), 18% from nuclear power, and the remaining 50% comes from imported fossil fuels.
And it wants to be the first country in Europe to become coal-free. The plan is to phase out several large coal plants by 2025 and begin investing in renewable energy. There were also discussions of subsidies and tax breaks in government documents.
Right now the country imports 5 million metric tons of coal every year, mostly from Poland and Russia. In some years that can cost $388 million, a real hit to the country’s GDP of $266 billion. Keeping that money at home with renewable energy offers significant benefits for the country – energy independence, new jobs, improved trade balance, and cutting emissions.
The country is a strong supporter of the Kyoto Protocol and has worked very hard to meet emission reductions. As of 2008, it was 1% below the target reduction.
Being coal-free is a smart financial and ecological move for the country, and maybe one other’s in Europe could follow.
Did you know that America had an Export-Import Bank?
The Export-Import Bank of the United States (Ex-Im Bank) approved a $922 million loan guarantee to support the export of three satellites and related equipment to the Mexican government for the MEXSAT regional mobile satellite system. Mexico’s Secretariat of Communications and Transportation will purchase the satellites from Boeing Space and Intelligence Systems in El Segundo, Calif. Boeing will produce two satellites with mobile service satellite (MSS) capacity and will subcontract a third satellite with fixed service satellite (FSS) capacity from Orbital Sciences Corporation in Dulles, Va.
The three satellites will be used to deploy the MEXSAT system, a next-generation, space-based communications platform that will help support social and economic development within Mexico. Various sectors will benefit from MEXSAT, including programs focusing on education, health care, disaster relief and rural telephonic service.
Mexico is one of Ex-Im Bank’s nine key markets and accounted for $8.3 billion of the Bank’s worldwide credit exposure at the end of FY 2011. In FY 2012 to date, the Bank has authorized approximately $1.8 billion in financing for U.S. exports to Mexico.
Source: Embassy of the United States in Mexico