Holmen teams up with E.on on wind power development in Sweden

(ADPnews) - Feb 8, 2011 - Swedish paper maker Holmen (STO:HOLM B) today said it has joined hands with German utility E.on (ETR:EOAN) to develop wind power projects in Sweden.

Under the agreement, the partners plan to install 70 wind turbines in three areas, located mainly on Holmen-owned land, which are expected to produce 330 GWh of electricity per year.

The two companies plan to install the turbines by 2015. They will make the investment decision no sooner than 2013, Holmen said.

"If the joint project goes well, we hope to see further cooperation in new areas," E.on Sweden CEO Jonas Abrahamsson said, adding that the partnership is in tune with E.on's strategy "of helping to drive the switch to renewables in Sweden".

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