German asset manager Prime Capital AG has acquired a synthetic aviation fuel project in Sweden, providing a boost to the nation's green-tech transition amid recent setbacks in the green energy sector. The factory, being developed by Renewable Energy Systems Holding Ltd., is projected to cost between €1 billion to €2 billion and aims to be operational by the late 2020s, pending approvals. The plant, situated in Ange, central Sweden, is set to produce more than 80,000 tons of fuel annually and will be powered by 500MW of renewable electricity. Through electrolysis, water will be converted into hydrogen and oxygen, with the green hydrogen then combined with captured carbon dioxide to create aviation fuel. The Nordic region's advantageous conditions, such as low electricity costs, a high proportion of renewable energy sources, and abundant water supply, make it an ideal location for synthetic fuel production. Prime Capital's investment in this project aligns with its ownership of other energy ventures developed by RES, showcasing its commitment to sustainable energy initiatives. The acquisition signifies a positive development in Sweden's green-tech ambitions despite recent challenges faced by other green energy projects in the country.