EuroWire March 2024

Corporate News

Long-term power purchase agreement for renewable energy Borealis, a provider of advanced and sustainable polyolefin solutions and a European supplier of base chemicals, has entered into a long-term power purchase agreement (PPA) with Alpiq, a Swiss energy services provider and electricity producer, to source renewable electricity from the Finnish wind farm Merkkikallio, owned by Renewable Power Capital. Beginning this year, Alpiq will supply around 90 gigawatt hours (GWh) per year of renewable energy to power Borealis’s production facilities in Porvoo, Finland, over the course of nine years. This significant partnership takes both Borealis and Alpiq closer to achieving their climate neutrality goals. With the long-term PPA in place, both companies take a substantial step forward in the transition to cleaner energy. The new PPA also makes a contribution to the Finnish chemical sector’s aspirations to attain carbon neutrality by 2045. Borealis’s goal is to secure 100 per cent of its electricity consumption from renewable sources for its polyolefins and base chemicals divisions by boosting the proportion of renewable power used in its Finnish production facilities. Furthermore, through the PPA with Alpiq, the renewable electricity produced will lead to a reduction of Scope 2 emissions.

© 3D Wind Service, www.3dws.fi

Merkkikallio wind farm in Finland

“With the signing of this agreement, Borealis takes a significant step toward realising its ambitious energy and climate goals, demonstrating its commitment to advancing the energy transition,” said Wolfram Krenn, Borealis executive vice president base chemicals and operations. “This partnership holds special significance, as it propels Borealis beyond the pivotal threshold of sourcing over 50 per cent of our electricity from renewable sources for our operations in Porvoo.” Borealis AG www.borealisgroup.com Alpiq www.alpiq.com

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March 2024