• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 2026

1

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents

2

Current price of oil as of July 13, 2026

3

Current price of silver as of Monday, July 13, 2026
PoliticsEnergy
Europe

Sweden gears up for an uncertain future as it invests billions in infrastructure and energy grid defence

By
Lars Paulsson
Lars Paulsson
,
Niclas Rolander
Niclas Rolander
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Lars Paulsson
Lars Paulsson
,
Niclas Rolander
Niclas Rolander
, and
Bloomberg
Bloomberg
Down Arrow Button Icon
April 24, 2024, 4:53 AM ET
Pipework inside the Oresundsverket natural gas-fired power plant, operated by Uniper SE, in Malmö, Sweden
Sweden’s grid operator wants the facility in Malmo operational again so that it can keep the lights on in the event of blackouts following an attack on national energy infrastructure. Carsten Snejbjerg/Bloomberg via Getty Images
Add Fortune on Google for similar content.

A red brick building with a grey cooling tower in Malmo’s northern harbor has become a symbol of Sweden’s preparations for an uncertain future.

Recommended Video

The mothballed power plant near the Oresund straits was set to be dismantled and shipped to new owners overseas. Then the war in Ukraine upended the country’s defense policy, and is now forcing a rethink of energy security plans. 

With its capital closer to St. Petersburg than Berlin, the Nordic nation of 10 million people has been on edge since Russia’s annexation of Crimea a decade ago. But faced with an increasingly emboldened Vladimir Putin, NATO’s newest member says it has to be ready if the conflict spreads through the Baltics.

Sweden’s grid operator wants the facility in Malmo operational again so that it can keep the lights on in the country’s third-largest city in the event of blackouts following an attack on national energy infrastructure. 

“Hopefully, we won’t end up in a situation where we use these capabilities,” said Mikael Nilsson, the plant’s manager. “But to have the assurance that we’re there and ready when needed is really comforting.”

In addition to strengthening its military, which was downsized after the Cold War as Sweden bet on a peaceful future, the country needs to upgrade ports, roads, rail networks, hospitals and shelters.

Its energy supply — a mix of nuclear, hydro and wind — is particularly vulnerable, because of geography. 

Some 16,000 kilometers (9,942 miles) of power lines that help connect production in the north with the main cities in the south cut through dense forests covering about two thirds of the landscape.

That leaves the grid more open to sabotage than those in many other European nations and Sweden must be prepared for disruptions, according to Vera van Zoest, associate senior lecturer at the Swedish Defence University.

“Critical infrastructure, like for example the electricity grid, is often a main target in times of war,” van Zoest said.

She cited Ukraine where Russia has damaged more than half its neighbor’s energy facilities since the full-scale invasion in Feb. 2022, according to the World Bank, plunging cities into darkness and depriving people of water and heating during harsh winters. 

An expansion of the battlefield across Europe isn’t the only concern, though. The mysterious attacks two years ago on the Nord Stream gas pipelines that sent prices soaring highlight the dangers of hybrid warfare, including so-called false flag attacks or others with plausible deniability.

“No one knows how much time we have,” said Civil Defense Minister Carl-Oskar Bohlin, adding that making improvements is all the more urgent because southern Sweden has one of the largest gaps between consumption and production capacity in Europe.

By the end of 2028, some 1,000 skilled Swedes should be on call to help protect energy supply as part of compulsory civic duty — a form of national service suspended after the Cold War and reintroduced this year. Stronger fences will be built and monitoring enhanced. 

And Malmo won’t be the only city able to operate independently of the grid. Grid operator Svenska Kraftnat says it has plans in place for the capital, Stockholm as well as Goteborg and key regions.

“It’s about building up the ability to carry on as usual in times of crisis,” said the operator’s Chief Security Officer, Erik Nordman.

Overall, the government allocated about 5.5 billion kronor ($510 million) in the 2024 budget to civil defense, almost three times as much as in 2021, the year before Moscow sent tanks to Ukraine. It topped up the funding in mid-April with an extra 385 million kronor.

But that still falls short of the 10 billion kronor that the Swedish Civil Contingencies Agency estimates the country needs annually just to start to get off the back foot.

“It doesn’t matter how strong the military becomes — if we don’t get the support we need from civil defense we won’t be able to do what is required,” said military commander-in-chief Micael Byden. “This is an extensive job.”

The challenges aren’t unique to Sweden and President of the European Commission, Ursula von der Leyen, says other countries should be more like Finland — which shares a border with Russia and over the decades has built up and maintained robust civil defense infrastructure, while also teaching civilians how to act in a national emergency. 

Swedish Prime Minister Ulf Kristersson has already taken note.

“We are learning a lot from what is happening in Ukraine, for reasons that are very sad,” he said during an April 23 press conference with Finnish President Alexander Stubb. “For more positive reasons we are also learning from Finland, not least when it comes to preparedness and civil defense.”

Malmo’s 450-megawatt plant is fired by gas but can also burn diesel, and is owned by German energy giant Uniper SE. It shut down the facility in December 2016 after power prices plunged too much to turn a profit then sold it in 2021 to Dutch company PACO Holding.

Last year, as Russia was ramping up naval activity in the Baltic and gaining the upper hand in Ukraine, Svenska Kraftnat ordered Uniper to back out of the sale and put the plant on standby until the end of the decade.

By way of compensation, the grid operator offered as much as 1.1 billion kronor — in one of the state’s first, and largest, investments in energy security since Russia’s war in Ukraine started.

During a recent visit to the power plant, which was built in 2009, manual dials, wheels, cables and pipes crisscrossing the building, appeared in pristine condition, but parts were still covered in scaffolding. 

Work on firing up the site — called Oresundsverket after the nearby straits that act as a gateway to trade routes in the Atlantic — will intensify after the summer when new turbine blades costing tens of millions of kronor will be installed. It will be fully operational in 2025.

Nilsson said he expects the plant will continue to offer its service to the power market  beyond the end of the decade, when the grid manager’s order expires. “I don’t see any of the requirements on security of supply diminishing,” he said, adding, “on the contrary.”

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter delivers clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Authors
By Lars Paulsson
See full bioRight Arrow Button Icon
By Niclas Rolander
See full bioRight Arrow Button Icon
By Bloomberg
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

U.S. launches new strikes on Iran while Tehran mocks Trump’s reversal on charging for Hormuz transits — ‘20% is of course too much. We will be fair’
PoliticsIran
U.S. launches new strikes on Iran while Tehran mocks Trump’s reversal on charging for Hormuz transits — ‘20% is of course too much. We will be fair’
By Jon Gambrell, Konstantin Toropin, Will Weissert and The Associated PressJuly 13, 2026
9 hours ago
Lindsey Graham and Mitch McConnell face each other.
North Americagovernment spending
McConnell’s absence could jeopardize Republicans’ defense spending agenda as the Iran war escalates
By Sasha RogelbergJuly 13, 2026
9 hours ago
usa
North AmericaWealth
America pays workers just 27% of what its wealth allows — the worst in the OECD
By Stephen Bagwell, Susan Randolph and The ConversationJuly 13, 2026
13 hours ago
dan
PoliticsElections
Meet Dan Sullivan, the retired schoolteacher running for office who insists he’s not trolling sitting Senator Dan Sullivan
By Becky Bohrer and The Associated PressJuly 13, 2026
15 hours ago
na
North AmericaEducation
‘We devalued the trades’: A Native American graduation miracle that isn’t what it seems
By Savannah Peters and The Associated PressJuly 13, 2026
15 hours ago
mm
North AmericaElections
Mitch McConnell breaks silence, said he was ‘briefly unconscious’ after a fall, got treated for mild pneumonia
By Mary Clare Jalonick and The Associated PressJuly 13, 2026
15 hours ago

Most Popular

The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
Innovation
The U.S. spent $30 billion to ditch textbooks for laptops and tablets: The result is the first generation less cognitively capable than their parents
By Sasha RogelbergJuly 12, 2026
2 days ago
Current price of oil as of July 13, 2026
Personal Finance
Current price of oil as of July 13, 2026
By Joseph HostetlerJuly 13, 2026
22 hours ago
Current price of silver as of Monday, July 13, 2026
Personal Finance
Current price of silver as of Monday, July 13, 2026
By Joseph HostetlerJuly 13, 2026
22 hours ago
Trump embraces Australian retirement system backed by Larry Fink
Personal Finance
Trump embraces Australian retirement system backed by Larry Fink
By Brianna Sosa and BloombergJuly 12, 2026
1 day ago
How Pete Hegseth's DEI order just put Scouting America's future at stake
North America
How Pete Hegseth's DEI order just put Scouting America's future at stake
By Seth T. Kannarr, Derek H. Alderman and The ConversationJuly 13, 2026
13 hours ago
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
Middle East
The U.S. and Iran can't agree on fully reopening the Strait of Hormuz. The solution could be straight out of the Old Testament
By Jason MaJuly 11, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.