Arctic Today’s top 5 most read stories of 2024

By Arctic Today December 19, 2024
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As we approach the end of the year, we take a look back at our most read stories of 2024.

Wind turbines in the Markbygden Ett wind farm. Photo: Lennart Håkansson

1. Sweden’s largest wind farm faces bankruptcy
Posted: January 12, 2024
Summary: Our top story came from our partners at North Sweden Business. Markbygden Ett, Sweden’s largest wind farm near Piteå in Norrbotten, was facing bankruptcy. The Swedish Tax Agency opposed the company’s reconstruction, citing accumulated losses of 2.5 billion kronor (€220 million) over the past three years and debts amounting to SEK 6 billion (€530 million). A long-term contract with the Norwegian industrial group Hydro, extending until 2040, is identified as a significant factor contributing to the financial difficulties.

Alaska Senator Lisa Murkowski was among the opening speakers at this year’s Arctic Circle Conference. Here she is pictured not unveiling the U.S.’s latest icebreaker. (Arctic Circle)

2. Day 1 of the Arctic Circle, contradictions take to the main stage
Posted: October 17, 2024
Summary: The 12th annual Arctic Circle Conference commenced in Reykjavík, Iceland, attracting global experts and attendees to discuss Arctic-related topics, including the environment, defense, science, and business. Elias Thorsson gave his perspective on the opening day, which featured addresses by Arctic Circle Chairman and former President of Iceland Ólafur Ragnar Grímsson, Prime Minister of Iceland Katrín Jakobsdóttir, and Lars Løkke Rasmussen, focusing on key challenges and opportunities in the Arctic region.

NATO Military Committee Chief Admiral Rob Bauer listens to the media as Latvia celebrates the anniversary of joining the alliance in Riga, Latvia March 28, 2024. REUTERS/Ints Kalnins

3. NATO admiral Rob Bauer warns of growing military cooperation between Russia and China in the Arctic
Posted: October 14, 2024
Summary: Admiral Rob Bauer, Chair of NATO’s Military Committee was one of the keynote speakers at this year’s Arctic Circle conference. During his talk he expressed concerns over the increasing military cooperation between Russia and China in the Arctic. He warned that this collaboration could impact regional stability, especially as both nations enhance their military presence in the area. The U.S. military has also noted this growing cooperation, emphasizing the need for vigilance in the region.

Erlingur Gudleifsson, Director of the Arctic Energy Foundation and a senior researcher at the Alaska Center for Energy and Power, is the main organizer of the AEF.

4. Powering the Arctic: International conference explores a sustainable energy future
Posted: October 10, 2024
Summary: Erlingur Gudleifsson, the Director of the Arctic Energy Foundation spoke about an international conference focused on sustainable energy solutions for the Arctic, which was held for the first time in Akureyri, Iceland. Discussions highlighted the importance of innovation and collaboration in overcoming challenges and advancing towards a sustainable, net-zero energy future. The conference underscored the Arctic’s role in contributing to global energy demands through sustainable practices.

Jeanette Vitasp, Vice-President, Head of Lending at the Nordic Investment Bankat the Nordic Investment Bank (NIB)

5. Nordic Investment Bank pivots to defense amid Arctic tensions and NATO expansion
Posted: October 9, 2024
Summary: The Nordic Investment Bank (NIB) announced a significant policy shift to allow financing for defense-related industries. Jeanette Vitasp, Vice-President and Head of Lending at NIB, explained that this decision was influenced by growing geopolitical concerns, particularly following Russia’s invasion of Ukraine and increased military presence in the Arctic. Additionally, Sweden and Finland’s recent NATO membership have heightened the focus on regional security, prompting Nordic and Baltic countries to prioritize defense investments.