Master thesis - The Socioeconomic Value of Domestic eSAF Production

Background

The aviation sector faces increasing pressure to reduce greenhouse gas emissions while maintaining reliable and affordable air transport. Renewable aviation fuels, including e-fuels (eSAF, electro sustainable aviation fuels), are expected to play a key role in achieving climate targets, particularly under the EU ReFuelEU Aviation framework. Sweden and Finland possess several advantages for eSAF production, including abundant low-carbon electricity, industrial sources of biogenic CO₂, and strong expertise in energy-intensive industries.

However, large-scale domestic eSAF production requires significant investments in renewable electricity generation, hydrogen production, carbon capture, fuel synthesis facilities, and supporting infrastructure. As a result, an important question for policymakers and industry is whether domestic eSAF production creates greater socioeconomic value than importing fossil jet fuel or eSAF produced elsewhere. Understanding this trade-off is essential for designing effective industrial, energy, and climate policies and for prioritizing future investments.

Objective

The objective of this thesis is to assess the socioeconomic value of domestic eSAF production in Sweden and Finland, and compare it with alternative scenarios based on imported fossil jet fuel and imported eSAF.

The study will develop an assessment framework to quantify and compare the direct, indirect, and induced socioeconomic impacts of different fuel supply pathways. Attention will be given to value added, employment, public finances, trade balance, energy security, and dependence on imported resources and equipment.

The thesis aims to identify the key country-specific factors that determine when domestic eSAF production delivers a positive net socioeconomic outcome and under what conditions local production creates greater value for society than fuel imports.

Potential research questions:

• What direct, indirect, and induced economic value can domestic eSAF production create?
• How does domestic eSAF production compare with imported fossil jet fuel and imported eSAF in terms of value added, employment, public finances, and trade balance?
• Which country-specific assumptions most strongly influence the socioeconomic attractiveness of domestic eSAF production?
• How should energy security, resilience, industrial development, and public support requirements be considered when evaluating domestic eSAF production?

Our offer

At Fortum, a thesis project is an excellent opportunity to engage with students and for you to understand how our company works. We also offer the possibility to work on very topical area and in the “forefront” of energy transition. You'll have a qualified internal supervisor and develop a network within and beyond Fortum, including other thesis students. When relevant, you'll also collaborate with external experts.

Fortum offers a taxable one-time compensation for a well-executed and approved thesis.

Your Qualifications

You are on the final stretch of a master's degree in Energy Technology, Industrial Engineering and Management, Economics, Engineering Physics, or a related field. Familiarity with energy systems, techno-economic analysis, sustainability assessment, or industrial policy is considered an advantage. You are likely analytical, self-driven, and goal-oriented as an individual. You thrive on challenges and are inspired by addressing and resolving new problems.

Together, we will outline the scope to fit the requirements of a master's level thesis (30 credits). The thesis will need to be written in English.

Interested?

To apply, register your CV and a personal letter of maximum one page, in our Recruitment Tool via “Apply now”, latest by 17.11.2026. Applications will be evaluated continuously and an applicant on-boarded before this date.

The personal letter must include an approach on how you would like to investigate the idea.

If you have General questions about Theses or Internship at Fortum, please address those to fortumcareers@fortum.com.

Please note that we have more Master Thesis Projects open for application at our recruitment site.

Schedule

To be performed during the Spring Semester 2027.

Venue

At Fortum’s office in Solna/Stockholm. Remote work is also possible yet not preferred.

We are Fortum
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated
emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com