Holmen and E.ON signs agreement to develop wind power in Örnsköldsvik, Sweden

ORNSKOLDSVIK, Sweden, Feb. 8, 2011 (Press Release) - Holmen and E.ON have today signed an agreement to jointly develop wind power in the municipality of Örnsköldsvik.

"This agreement marks an important step towards greater production of renewable energy in Sweden," comments Magnus Hall, Holmen's President and CEO.

The plan is to erect wind turbines in three different areas, primarily located on Holmen's land and all identified as suitable by Örnsköldsvik Municipality. Annual production will be an estimated 330 GWh from around 70 wind turbines. The ambition is to also sign agreements with private landowners in these areas.

"This partnership is fully in line with E.ON´s strategy of helping to drive the switch to renewables in Sweden, with success very much dependent on joining forces with major industrial partners," says Jonas Abrahamsson, CEO of E.ON Sweden.

The partnership is based on joint project development and an intention to invest together, in order to realise the shared ambition of E.ON and Holmen to build more renewable energy capacity. Holmen has a unique position in this respect as one of Sweden's largest landowners, while E.ON leads the field in establishing industrial-scale wind farms.

"If the joint project goes well, we hope to see further cooperation in new areas," states Jonas Abrahamsson.

The aim is to have all the turbines in place by 2015. The investment decision will be taken in 2013 at the earliest.