Norway’s largest power company forms J/V with leading forestry company to produce biofuel
Haavind assisted Statkraft in a cooperation agreement with Södra to start a jointly-owned company for the future production of biofuel at the former Tofte pulp mill, a site now owned by Statkraft.
Haavind assisted Statkraft in a cooperation agreement with Södra to start a jointly-owned company for the future production of biofuel at the former Tofte pulp mill, a site now owned by Statkraft.
The company will be named Silva Green Fuel AS, and will be 49-percent owned by Södra and 51-percent owned by Statkraft. Biofuel will play an important part in the drive to achieve national and international targets for reducing climate emissions from the transportation sector.
– Statkraft views forest-based biofuel as a potential new growth area in renewable energy. I think that the collaboration with Södra constitutes a solid basis for developing a commercially-viable and profitable project, said Christian Rynning-Tønnesen, CEO of Statkraft.
– Södra is monitoring closely the technology developments and the business opportunities presented by the utilisation of forest raw materials for industrial production of climate-neutral fuels. We have also enjoyed good collaboration with Statkraft in the past and look forward to combining the two companies’ expertise and experience in this project, added Södra’s CEO Lars Idermark.
Södra is a group with extensive forestry operations and a leading producer of paper pulp, sawn timber and bioenergy. The business is owned by 50,000 forest owners in southern Sweden, has 3,500 employees and sales of SEK 17bn.
Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, gas-fired power and district heating and is a global player in energy market operations. Statkraft has 3,700 employees in more than 20 countries.