Sweden: Forestry companies open for investing in wind power on own land

Swedish forestry companies have opened for new investments in wind power to allow wind power developments on their land. Swedish forestry company SCA has rented out its land for wind projects and this has entailed an annual revenue of around SEK 100mn (EUR 9.52mn USD 10.06mn). 20% of the installed wind power capacity in Sweden is on SCA's land. Currently, 6.7 TWh electricity is produced on SCA's land, to be raised to 9 TWh by 2023 at the latest. Second largest forestry company Holmen contributes to the production of 590 GWh wind energy. Holmen acquired a half of Varsvik wind farm from fund company Mirova and thus Holmen became a producer of further 165 GWh. Holmen is also applying for developing two wind farms of a total of 32 wind turbines on own land near Braviken paper mill. Swedish-Finnish company Stora Enso rents its land to external parties. In total, the forestry companies aim at triplicating current wind power production on own land.