PETER BRUCE: Green momentum falters, but not for long
No-one in their right mind doubts that renewable energy is the way of the future
News yesterday that one of the world’s biggest aluminium companies, Norsk Hydro, is to phase out its battery materials and green hydrogen businesses, will have been met with not a few fist pumps in fossil fuel boardrooms around the world, including here in SA.
The Norwegian giant was also an enthusiastic investor in Northvolt, a battery manufacturer born of an ambition to create a European giant in the business. Billions of euros and dollars went into Northvolt. BMW and Volkswagen became shareholders, VW investing nearly $1bn before it began to collapse earlier this year. Northvolt is now in chapter 11 bankruptcy proceedings in the US. ..
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