Södra and Statkraft form new biofuel company in Norway

In Sweden, forestry and timber company Södra and Norwegian energy company Statkraft plan to start a joint company to produce biofuel from wood and wood residues. Statkraft is the largest renewable energy producer in Europe and the main power company in Norway. Under the partnership, Statkraft will take possession of Södra Cell Tofte AS and gain access to the former Tofte pulp plant in Hurum, Norway. Both companies are banking on government incentives to increase sustainable biofuel blends in oil-based fuels.