Developer Alight, Swedish forest owner to partner on 2 GW solar
OSLO, Aug 19 (Reuters) -Solar developer Alight is partnering with Sweden's biggest forest owner Sveaskog to develop solar energy projects totalling 2 gigawatts (GW) over five years, the firms said on Monday.
"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," Erik Brandsma, CEO of Sveaskog, said in a statement.
Under the agreement, Alight will develop, build and co-own solar parks on Sveaskog's land, with the state-owned forest company to co-invest between 30% and 49% in the solar parks, they said.
Sveaskog owns 14% of Sweden's forests, or about 3.4 million hectares.
If just 0.2% of this, or 10,000 hectares, of this converted into solar parks, it could generate around 5 GW of renewable energy, and would double Sweden's current solar output, the firms said.
Development has already begun for two projects - a solar park of approximately 150 hectares in central Sweden and another of 70 hectares in southern Sweden, they added.
Both regions are in need of expanding renewable electricity production due to significant electricity deficits, they said.
Solar development in Sweden has picked up pace in recent years, with installed capacity growing by 1.5 GW in 2023 to 4.1 GW, according to SolarPower Europe.
Reporting by Nora Buli; Editing by Angus MacSwan
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