Sveaskog and Alight enter into strategic partnership to develop large-scale solar power production
Sveaskog has chosen Alight as its partner to develop solar energy projects totalling two gigawatts over five years. The first two projects consist of a solar park of approximately 150 hectares in central Sweden and a solar park of 70 hectares in southern Sweden, in the electricity areas (SE3 and SE4) with the largest electricity deficit and need for expansion of renewable electricity production.
Sveaskog, Sweden's largest forest owner owned by the Swedish state, has chosen to partner with Alight, a leading developer and owner of solar parks headquartered in Sweden. Within the framework of the long-term partnership, Alight will develop, build and co-own solar parks on Sveaskog's land. Sveaskog will co-invest between 30 and 49 per cent in the solar parks and contribute with sustainable management initiatives during the development process. Development of the first two projects has already begun.
- “Sveaskog's mission is to create value from forest and land. Investing in solar power on our land is natural for us as a large landowner and a way to contribute to the energy transition and the future need for fossil-free energy sources. Alight will be a stable partner for us in this work”, says Erik Brandsma, CEO of Sveaskog.
Sveaskog owns fourteen percent of Sweden's forests, or approximately 3.4 million hectares, of which 3 million hectares are productive forest land. If 10,000 hectares, or 0.2% of Sveaskog's land (0.04% of Sweden's total forest land) were converted into solar parks, it could generate around five gigawatts of renewable energy, which would more than double Sweden's current installed solar capacity.
- “Solar power is a fast and affordable solution to combat the climate crisis, especially given Sweden's increasing demand for renewable electricity. We are impressed by Sveaskog's high ambitions in sustainability and look forward to jointly build and manage solar projects that strive for the best balance between ecological, economic and social values”, says Harald Överholm, CEO of Alight.
