Chemical manufacturer Borealis has signed a power purchase agreement (PPA) with Fortum to source 800 gigawatt-hours of electricity from two onshore wind farms to be built in Finland.
From mid-2024, the projects, majority-owned and operated by Fortum, will supply Borealis’ production operations in Porvoo, Finland, over the course of eight years.
Together, the two parks, Pjelax-Böle and Kristinestad Norr, will consist of 56 turbines with an annual power generation of approximately 1.1 terawatt-hours.
Construction started in January 2022, with operations anticipated to begin by the middle of 2024 at the latest.
Borealis has secured around 10% of the total output of the two wind farms for an eight-year period upon the project’s commissioning in 2024.
Borealis executive vice president base chemicals & operations Wolfram Krenn said: “It’s great to start the year with yet another major PPA.
“Our agreement with Fortum is especially meaningful because it moves Borealis across the important milepost of 20% electricity supplied from renewable sources for use in our operations.
“Realising our commitment to re-inventing for more sustainable living starts with our own operations.
“We are pleased that this new PPA with Fortum brings us ever closer to achieving our ambitious Energy & Climate goals, and enables us to further accelerate our pace in sustainable power sourcing.”
Fortum vice president for trading and asset optimisation Mats Persson said: “As the third-largest producer of CO2-free power in Europe, we are pleased to be working with a partner who shares our commitment for a cleaner world.
“To achieve decarbonisation in Europe, we need big players like Borealis on board who can transform the industry by making their operations more energy efficient.
“We at Fortum look forward to putting our technical know-how and experience to work to support Borealis in this crucial energy transformation.”