Energy Bet Puts Wind at Property Firm’s Back



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The Wall Street Journal

In 2006, a decade and a half after taking over for his father at the helm of one of Sweden's biggest property firms, Hans Wallenstam bet billions of Swedish kronor that a clutch of wind farms scattered across the Scandinavian nation eventually could save the company money and lure high-dollar property seekers eager to consume "green" energy.

The bet looks like it is paying off. Wallenstam AB WALL-B.SK +0.34% has built 57 turbines and named its wind parks after long-serving employees, like Benny Olsson. With more than enough homemade energy to power the 9,000 households and 1,000 companies occupying Wallenstam buildings, the 69-year-old company is entirely self-sufficient now.