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Eolus and SCA starting a new cooperation regarding development of wind power projects

Hässleholm, Sweden, July 7, 2020

Eolus has signed an agreement regarding wind power development on land owned by SCA in Sweden and the Baltic States. Under the cooperation agreement, Eolus and SCA will initiate joint development in a number of projects and Eolus will also be able to sign land lease agreements in other identified project areas. The goal is to reach around 1 000 MW of projects for realization.

In Sweden, the agreement concerns designated areas and in the Baltic States the agreement covers all the properties that SCA currently owns in Estonia and Latvia. Under the agreement, Eolus will sell about 600 hectares of land on Saaremaa in Estonia to SCA, with the parties signing land lease agreements giving Eolus the right to continue developing wind power projects on the properties.

-We have a good longstanding relationship with SCA and are happy to develop our cooperation. Through the agreement, we take a new step in our cooperation by developing projects together. With our complementary skills there are extensive possibilities to develop attractive projects and by this contribute to the further expansion of renewable electricity production in Sweden and the Baltic states Per Witalisson, CEO of Eolus.

-For the last 15 years SCA has leased or cooperated on wind power projects to forward the green energy transition. Currently there are 536 wind turbines in operation on land owned by SCA with a production of 5 TWh of green energy per year. At SCA we are very pleased to cooperate with Eolus in our quest to reach our long term goal of 11 TWh of wind power production on land owned by SCA says Milan Kolar, responsible for wind power within Renewable Energy.   

For further information contact:

Per Witalisson, CEO, +46 10 199 88 02
Johan Hammarqvist, head of communications at Eolus, +46 10 199 88 10
Björn Lyngfelt, Vice President, communications SCA, +46 70 626 82 23

About Eolus:
Eolus Vind AB is one of the leading wind power developers in the Nordics. Eolus is active in the whole value chain from development of green field projects to construction and operation of wind farms. Eolus offers attractive and competitive investments in the Nordic and Baltic countries as well as the United States to both local and international investors. Founded in 1990, Eolus has constructed 615 wind turbines with a capacity of over 1 200 MW. Eolus has signed contracts for about 1 300 MW of asset management services of which some 745 MW is in operation.

Eolus Vind AB has about 26 000 shareholders. Eolus shares are listed at Nasdaq Stockholm.

For more information about Eolus, please visit www.eolusvind.com

About SCA
The core of SCA’s business is the forest, Europe’s largest private forest holding. Around this unique resource, we have built a well-developed value chain based on renewable raw material from own and others’ forests. We offer paper for packaging and print, pulp, wood products, renewable energy, services for forest owners and efficient transport solutions.

For more information about SCA, please visit www.SCA.com

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