STOCKHOLM,
Oct. 30, 2009
(Press Release) -
Sweden's basic industries are now launching a joint project with Vattenfall to secure energy production and electricity supply at competitive prices in the future. In recent days, Industrikraft i Sverige AB, a newly formed company owned equally by Boliden, Eka Chemicals, Holmen, Stora Enso and SCA Forest Products, has signed a letter of intent with Vattenfall regarding joint energy production. The agreement aims to ensure new and cost-effective baseload power, and thus secure the long-term future of industrial operations in Sweden.
At the heart of the collaboration is the shared view that there will be a shortage in baseload power once Sweden's nuclear plants are decommissioned. These will have to be replaced with new baseload power that is carbon-free.
"As far as Vattenfall is concerned, we are extremely pleased to be continuing our close collaboration with representatives of Swedish industry and working together on the energy solutions of the future, including renewable energy sources," comments Hans von Uthmann, Senior Executive Vice President Vattenfall AB and Head of Vattenfall Nordic.
"We are focused on setting up and taking part in concrete projects for new baseload power. Naturally, we see nuclear power as one alternative, but we will also be studying other options. The joint venture with Vattenfall gives us a strong partner in energy production," explains Magnus Hall, Chairman of Industrikraft.
The agreement between the parties outlines a range of options for possible joint development areas, which includes renewable energy sources and nuclear power.
"In order to safeguard welfare and jobs, Sweden's basic industries are dependent on access to electricity at competitive prices, so it is only natural that we are partnering up with an electricity producer," says Magnus Hall.
"The joint venture is entirely in line with our long-term strategy ‘Making Electricity Clean' and will help to meet agreed climate targets," adds Lars G Josefsson, President and CEO Vattenfall AB.
The next phase of the joint venture involves examining and deciding on concrete collaborative projects.
