SCA will introduce a new reporting segment – Renewable Energy – from January 1, 2023. The decision is in line with SCA’s stated ambition to grow and realise business opportunities in the renewable energy sector.
SCA is one of Europe’s leading renewable energy producers. Twenty per cent of Sweden’s wind power capacity is installed on SCA’s land, and through the use of residual and by-products from its forestry activities, SCA has grown to become one of Europe’s top producers of sustainable bioenergy. SCA has previously stated its intention to continue to grow in the energy sector through investment and organic growth. In 2021, SCA announced plans to invest together with Finnish energy company St1 in a new biorefinery in Gothenburg to produce biofuels.
“We see growth opportunities in the renewable energy sector, where we have announced plans to grow our presence in wind power and bio-based energy. Our ambition is that renewable energy will be a long-term value driver for SCA.” says Ulf Larsson, President and CEO.
Description of SCA’s new reporting segment
Renewable Energy
The Renewable Energy segment will include the production and sale of refined and unrefined biofuels and biofuels. It will also include development costs and revenues linked to the wind power business as well as sales of green by-products from industry for energy production.