Södra divests its shares in Sunpine

EQT Partners has committed SEK 2.5 billion to acquire Södra's 50% interest in the Sunpine biorefinery, a Piteå-based facility producing renewable diesel. This transaction, announced on March 12, 2026, sees a financial sponsor taking a significant stake in an operating biomass asset in northern Sweden. The deal structure involves EQT purchasing a half-share, positioning them alongside existing co-owners Preem and Sveaskog in the Piteå biorefinery. EQT's investment secures exposure to a single large-scale plant focused on renewable fuel production, aligning with broader energy transition mandates. Södra's divestment of its 50% stake for SEK 2.5 billion suggests a strategic re-evaluation of its portfolio, potentially freeing capital for its core pulp, wood products, or bioenergy operations. Södra, a cooperative owned by 52,000 forest owners, previously held a 50% interest in the Sunpine biorefinery, which converts crude tall oil into tall oil, turpentine, and lignin. This sale allows the Swedish forest industry cooperative to streamline its focus on its large-scale pulp mills and sawmills, while still producing bioenergy from its primary operations. Sunpine itself operates a single, large-scale biorefinery in Piteå, Sweden, and will now see EQT Partners join Preem and Sveaskog as co-owners. The Piteå facility's output of renewable diesel and other bio-products positions it within the growing demand for sustainable fuels in northern Europe. While specific details on EQT Partners' broader biomass or renewables track record are not provided, this acquisition places them directly into the operational phase of a Swedish bio-refining asset.