Better Energy has signed a power purchase agreement (PPA) with plastics manufacturer Nolato to cover a substantial part of its electricity consumption in Sweden.
The deal is for a duration of 10 years and has contributed to establishing a 24MW solar park near Studsvik (pictured), south west of Stockholm.
Spanning more than 23 hectares, the PV array is located within the Nykoping municipality.
With multiple facilities across Sweden, Nolato continues to implement strategies to reduce its environmental footprint while at the same time securing access to electricity.
Procuring renewable energy through PPAs is a key part of its strategy to cut CO2 emissions by 80% by 2025.
Nolato chief executive Christer Wahlquist said: “Procuring renewable energy for our Swedish production facilities by incorporating another solar farm is an effective strategy to get direct access to Guarantee of Origin for renewable electricity to secure our emission reductions.
“At the same time, it reduces exposure to price volatility in our portfolio that will contribute to stability and gain better visibility of our future electricity costs.
“The PPA with Better Energy presents the opportunity to move toward more sustainable business practices while making a good business decision, taking responsibility and contributing to adding more electricity production to the grid.”