Nolato will offtake green electricity for its Swedish operations through a 10-year Power Purchase Agreement with Better Energy.
Nolato, a global development and manufacturing partner of polymer products for an array of customers in medical, pharmaceutical, consumer electronics, hygiene, telecom and automotive industries, has signed a 10-year Power Purchase Agreement (PPA) with Better Energy. Through the PPA, Nolato will offtake renewable energy to cover a substantial part of its electricity consumption in Sweden.
Powering its sustainability strategy
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.
“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,” says Christer Wahlquist, CEO of Nolato. “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.”
Manufacturing with green electricity
Better Energy’s partnership with Nolato reflects a growing trend of industrial manufacturers turning to renewable PPAs to power their operations with green electricity. Nolato recognises that adding green electricity to its energy mix reduces its exposure to price volatility while allowing it to move toward more sustainable business practices. Over the past year, Better Energy has seen an increasing number of large-scale manufacturers adopt renewable PPAs across its markets.
“Nolato shows that manufacturers with large and complex operations can make a difference by purchasing additional green energy,” says Mikkel Thorup, Senior Director of Power Purchase Agreements at Better Energy. “We’re proud of our growing group of PPA partners in Sweden, representing companies from across sectors, committed to reducing their environmental impact.”
New renewable energy production for Sweden
The PPA contributes to establishing a new solar park near Studsvik, southwest of Stockholm. The park is expected to produce 25 GWh of electricity annually — equivalent to the power consumption of 5,000 Swedish households, of which Nolato will buy over half of the energy produced. Spanning more than 23 hectares, the park is located within the Nyköping municipality.
Media Inquiries
Lucas Benjamin Schmidt | Better Energy | +45 71 40 83 36 | lbs@betterenergy.dk
Glenn Svedberg | Nolato | +46 70 191 04 19 | glenn.svedberg@nolato.com
About Nolato
Nolato is a Swedish group with operations in Europe, Asia and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato’s shares are listed on Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector. Learn more at nolato.com.
About Better Energy
Better Energy is a fully integrated renewable energy company that builds additional green energy capacity. We develop, build, own and operate large-scale renewable energy parks with a focus on local and regional value creation and a strong commitment to nature. The green electricity we produce provides companies with more certainty and allows them to have an impact beyond meeting sustainability targets. Learn more at betterenergy.com.
