Vattenfall and Borealis have signed their first long-term renewable hydropower purchase agreement.
In January 2024, Vattenfall began supplying Borealis’ operations in Stenungsund with 175GWh per year of renewable energy from Vattenfall’s hydropower plants along the Lule River in northern Sweden.
In December 2023, Vattenfall and Borealis signed their first long-term PPA for hydropower, set to run for ten years.
“We strive to support our customers in achieving their sustainability goals so we are pleased about the cooperation with Borealis and the opportunity to provide energy solutions that meet Borealis’ ambitious sustainability targets,” said Branislav Slavic, Head of Customers & Solutions Nordics Vattenfall.
“The agreement makes it possible for Borealis to have a long-term power deal based on fossil free production. The partnership also underlines our ambition to become a leading provider of corporate PPAs,”
Wolfram Krenn, Borealis Executive Vice President Base Chemicals & Operations, added: “By partnering with Vattenfall for this ten-year power purchase agreement, we are taking a major step towards achieving our ambitious Energy & Climate targets, showcasing our dedication to re-inventing essentials for sustainable living.
“This long-term collaboration carries significant importance, catapulting Borealis beyond the critical milestone of securing over 40% of our electricity for our Polyolefins and Base Chemicals operations from renewable sources well ahead of time.”