UK-based energy company Renewable Energy Systems (RES) has signed a letter of intent for the use of Modvion’s wooden wind turbine towers in its future wind energy projects.
The move is intended to make RES’ wind farms among the most sustainable in the world.
Go deeper with GlobalData
RES Nordics CEO Matilda Afzelius said: “Innovative solutions that make our renewable energy projects even more sustainable is something that we want to promote.
“RES has committed to the Science Based Target Initiative, which focuses on halving emissions before 2030 and achieve net-zero emissions before 2050, and innovations such as Modvion’s are beneficial for reaching such targets.
“Being able to reach the stronger winds at heights of 290m, while reducing emissions, is an offering that we want to include in our projects as soon as possible.
“As well as something that aligns with RES’ vision to create a future where everyone has access to affordable zero-carbon energy.”
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe agreement could see Modvion supplying RES with around 20 wooden towers a year from 2026 to 2036. This would represent around Skr4bn ($353m) in future orders for Modvion.
RES Nordic’s partnership also means that the business will promote Modvion’s modular, wood-based, tower technology to its wind turbine suppliers.
Using wood instead of more carbon-intensive materials such as steel and concrete reduces emissions while storing carbon in the material.
Modvion CEO Otto Lundman said: “RES shares our vision of a future with carbon-neutral wind power.
“RES wind farms will become the most sustainable in the world when we provide emission-free towers.
“We need more companies like RES to lead the way in building renewable energy with renewable materials.”
Last month, RES agreed to sell its Lycksele wind project portfolio in Sweden to German investment firm Prime Capital.
The 290MW portfolio comprises the Fjällberg, Hornmyran and Vinliden wind energy projects, which are expected to come online in 2025.
