Alex Bakir (Norrsken Evolve): Europe’s AI ambitions need a new electricity system

Europe can invest heavily in AI, but without enough cheap, reliable electricity, its ambitions will eventually hit a physical limit. Data centres, industry and digital infrastructure all need power, making Europe’s energy system an increasingly important part of its technology strategy. Alex Bakir, General Partner at Norrsken Evolve, argues that electricity is becoming a question of competitiveness, resilience and sovereignty, not only climate. Alex traces how Europe became dependent on imported energy and why electrification now requires changes to grids, costs and supply chains. He also explains why Europe may already have the technology and capital it needs, if it can overcome fragmentation and build enough momentum to act. HighlightsWhy Europe’s AI ambitions depend on electricityHow energy became a competitiveness and sovereignty issueWhy grid infrastructure is becoming a bottleneckThe risk of swapping one dependency for anotherWhy Alex believes Europe already has the technology and capital to actThis session was recorded at the Love Tomorrow Summit, where EUVC curated the investor-focused programme.Timestamps(01:00) Why Europe should run on cheap, clean electricity(02:00) How Europe’s postwar model shaped its energy system(03:00) From industrial power to dependence on imported energy(04:00) Why this is bigger than climate change(05:00) Energy, geopolitics and economic power(06:00) Europe’s vulnerability to energy price shocks(07:00) Why AI raises the stakes for Europe’s electricity system(08:00) Grid bottlenecks, high costs and new dependencies(09:00) Why Europe already has the technology and capital to act(10:00) The case for a more electrified Europe