Axpo Nordic has signed a corporate power purchase agreement (PPA) with Finnish renewable energy producer Exilion Tuuli Ky.
The long-term deal covers the supply of 70GWh a year of renewable electricity from a Finnish wind farm, which will be used to meet the energy needs of consumer products company Colgate-Palmolive.
Commencing in 2025 and spanning a period of 12 years, Axpo will purchase 22.1MW of clean electricity from the Exilion-owned Ii Isokangas wind park (pictured).
The wind farm, located in the municipality of Ii in northern Finland, comprises five turbines.
Axpo will sell electricity produced by the facility to Colgate-Palmolive to fulfil its renewable energy needs.
Axpo Nordic originator Lauri Konsén said: “Axpo is delighted to be co-operating with one of the biggest renewable energy producers in Finland.
“This agreement demonstrates Axpo’s ability to provide innovative clean energy solutions tailored to the needs of our clients.”
Exilion investment manager Tommi Riski said: “We are happy to support the sustainability of Colgate-Palmolive’s operations with Finnish wind energy.
“Axpo makes it possible to sell electricity with a long-term contract that enables a predictable cash flow for the institutional investors of Exilion Tuuli.”
The PPA is the first such agreement between the two parties.