Sappi North America Urges Caution after The Nature Conservancy Announces Agreement with Brookfield Renewable
SAPPI LTD S/ADR (SPPJY)
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Source: Business Wire
BOSTON--(BUSINESS WIRE)--Sappi North America is concerned with today’s announcement from The Nature Conservancy regarding its agreement with Brookfield Renewable to acquire four hydroelectric facilities on the Kennebec River in Maine, including the Shawmut Dam.The Nature Conservancy has indicated that its priority is enhancing fish passage along the river, which could include the eventual removal of the Shawmut Dam. Sappi North America’s Somerset Mill in Skowhegan depends on the impoundment or pond created by the Shawmut Dam for its water intake and discharge operations.A removal would jeopardize the viability of the Somerset Mill and the thousands of Maine jobs connected to Sappi’s operations, including independent loggers, contractors, and landowners who work with and benefit from this work.In May 2025, Sappi completed a $500 million transformation of its largest paper machine at Somerset, creating the most advanced machine of its kind in North America. This investment positions
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