Sweden has had an electricity surplus since 2011, mostly due to wind power.
Sweden export more textile that is produce by non-child labor than they buy textile that is produce by child labor. They have a surplus in ethical produced textile.
I would guess it's a bit of a marketing stunt only counting the actual production process for now (and possibly transport) for this pilot project.
BTW, the steel industry in Sweden currently eats up about 15% of the electricity production of the nation (and the two main companies together, LKAB and SSAB, are responsible for about the same percentage of all CO2 emissions). This new project, when fully operational, will require an additional 50% of the current total capacity, which will definitely be a challenge.