The vision of St1 is to be the leading producer and seller of CO₂-aware energy. Renewable energy production is at the very core of the corporate strategy: our goal is to gradually replace fossil energy with renewable solutions.
The base of our business strategy lies in St1 Outlook that summarizes the global energy challenge we all are facing. There is an urgent need in the world to create new, cost-efficient renewable energy solutions. Although the share of renewable energy is growing, fossil energy continues to grow much faster.
The transition to renewable energy is inevitable and it has already started. However, it requires a lot of R&D work and also smart political decisions to stop the climate change. St1 wants to be at the forefront of the energy industry in the transition process. We are constantly striving to identify opportunities and looking for competent cooperation partners in potential business segments and markets.
"St1 can't change the world through our solutions, but we can take small steps in the direction where we move ourselves from fossil world into a renewable world."
St1 is replacing fossil traffic fuels in a competitive and sustainable way by producing advanced ethanol cost-efficiently from waste and residues. We only use feedstocks that are outside the food chain. Sawdust and other forest industry wastes and residues are substantial potential feedstock for advanced ethanol production.
St1 currently has several wind power projects under way in Norway and Sweden. The project that is the furthest along is the 800 MW Davvi wind farm project in the northern part of Eastern Finnmark in Norway, which is currently in the permit phase.
St1 offers operation of wind farms in Finland as a service business, 485 MW in total.
Geothermal energy is a growing area in St1's renewable energy business. We are active in two kinds of operations that produce energy from geothermal heat: ground source heating and deep heat. In the depths of the earth there lies enormous unused potential for sustainable energy and heat production - in fact, geothermal energy is one of the most significant ways to increase renewable energy in heating in this scale.
The future energy team of St1 focuses on the sustainable and feasible energy solutions of the future. We are looking at the entire field of renewable energy and searching for potential new technologies that can be commercialized.
We are exploring the opportunities of, for example, energy storage systems and solar power in order to bring you new, smart energy options for the future.
The global energy challenge requires also a major increase in biological carbon sinks. St1 started a Carbon Farming demo project in Morocco in 2018 in order to explore reduction of coal from atmosphere with afforestation.
The energy challenges that we and future generations face, if not solved quickly, will have serious consequences. St1 Outlook gives the ‘bigger picture’ on climate change, global energy challenges and considers how we can reverse the situation.