SWEDEN (News release) -- The Board of Directors of Rottneros has decided to invest a total of approximately
SEK 86 million ($8.4 million) in renewable electricity at Rottneros Mill in Sweden. The investments include a solar park and a battery storage and are part of a long-term strategy to reduce the groups exposure to the electricity market. The start-up is planned for 2024.

The solar park is expected to generate over 3 GWh annually, which can be compared to the company's annual purchased electricity demand of around 220 GWh. The purpose of the battery storage is primarily to contribute to an improved balance on the electricity market, which also generates revenue from Svenska Kraftnät and thus a favourable return on investment.

With a clear focus on sustainability, these energy investments are well suited to achieve favourable bank financing. Initial contacts with the banks have been made and the results will be announced.

Rottneros is an independent producer of market pulp.