Nolato, a Swedish plastics manufacturer, has entered a 10-year power purchase agreement (PPA) with Better Energy to secure a significant portion of its electricity from renewable sources. The agreement supports the development of a 24MW solar park near Studsvik, southwest of Stockholm, within the Nykoping municipality.
The solar park, covering over 23 hectares, will contribute to Nolato's broader efforts to reduce its environmental impact. The company aims to cut carbon dioxide emissions by 80% by 2025, with PPAs playing a key role in achieving this target.
Nolato's chief executive, Christer Wahlquist, emphasized the dual benefits of the agreement, stating, “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.” He also highlighted the importance of reducing exposure to energy price volatility, noting that the agreement helps provide stability and predictability in the company's energy costs.
The deal is in line with Nolato's strategy to adopt more sustainable business practices while supporting the expansion of renewable energy production in the grid.
