Axpo supplies wind power to Borealis
Axpo and Borealis have concluded a ten-year electricity supply agreement. Axpo will supply 130,000 megawatt hours of electricity per year from wind power to the production plant in Stenungsund from January 2024.
Axpo and Swedish plastic film producer Borealis have signed a long-term power purchase agreement (PPA), according to a media release. According to the agreement, Axpo’s wholly owned subsidiary Axpo Nordic will supply more than 130,000 megawatt hours of electricity from wind power to Borealis’ production plant in Stenungsund for ten years starting in January 2024.
For Borealis, the contract with Axpo means that the share of renewable energy consumed at the Stenungsund plant will be significantly increased, the media release says. Indirect carbon dioxide emissions at Borealis operations will be reduced by nearly 10,000 tons annually. Borealis aims to increase the share of renewables in its electricity mix to 40 percent by 2025 and achieve 100 percent electricity from renewable sources by 2030.
“This transaction marks another milestone in our corporate PPA business and demonstrates the crucial role Axpo Nordic plays in the energy transition. Sweden is an attractive market for international investors in renewable energy,” Cecilia Bergman of the Axpo Sweden management is quoted as saying. The continued expansion of wind farms allows industrial companies to source renewable power locally for their facilities to reduce their emissions and meet their sustainability goals, Bergman added.
“The contract brings us closer to our ultimate goal of covering all our electricity consumption from renewable sources by the end of this decade. This is another step in our journey to reinvent ourselves and live more sustainably,” Wolfram Krenn, Executive Vice President Base Chemicals & Operations at Borealis, is quoted as saying.