Renewable Energy Producers’ Strategies in the Visegrád Group Countries

Abstract

Companies that belong to the energy sector can use Sustainable Development Goals (SDGs) for their strategies and diversify electrical energy production with reverence to the natural environment. This article aims to analyze sustainability strategy types among the Visegrád Group (V4) countries’ energy producers, who decided to generate electrical energy from the renewable resources. This research uses an inductive inference approach supported by a literature study and deductive reasoning supported by a statistical reference method. The main finding is that the energy producers from the V4 group have a common direction of evolution in their strategies. This change is based on a growing share of renewable energy sources to achieve environmental excellence strategies. The lack of renewable energy sector organizations’ strategies translates into disappointment with the goals pursued by these organizations. The significance of this study lies in an explanation of how sustainability strategies compare at a firm and country-level in a proposed classification. The analysis can open future research areas to examine development of strategies in the renewable energy sector.

Keywords

• Hellwig’s method
• sustainability strategies
• sustainable development
• Visegrád Group
• sustainable strategic management
• the renewable energy sector