The new power purchase agreement (PPA) will be used to procure renewable energy from Axpo’s Finnish wind farm to Borealis’ Porvoo site.
Axpo has signed a second power purchase agreement (PPA) with chemicals company Borealis, within six months.
This eight-year agreement is a continuation of the 10-year power purchase agreement announced in December 2022 to procure electricity from renewable energy sources at the Borealis site in Stenungsund, Sweden.
With the electricity purchase agreement now signed, green energy will be delivered from the newly commissioned Kröpuln wind farm in Western Finland to Borealis’ Porvoo site from 2024 onwards.
Borealis aims to increase the share of electricity from renewable sources used in its own production to 40% by 2025 and to 100% by 2030.
“It is great that the Porvoo site received yet another renewable electricity procurement agreement, with which we will further reduce our carbon footprint.
“This wind power procurement agreement with Axpo takes us forward towards our green transition goal and with it we are well ahead of the time to reach Borealis Group’s strategic goal of 40% of the electricity used being based on renewable energy in 2025 and 100% by 2030,” said Satu Kosonen-Kaija, CEO of Borealis Polymers Oy.