Borealis Inks Renewable Power PPA with Sand Axpo Nordic

One of the world’s leading providers of advanced and sustainable polyolefin solutions Borealis is on its way to increase the share of renewable energy used in its Swedish operations with the signing of a power purchase agreement with Axpo Nordic. Under the agreement, Axpo will supply Borealis with renewable electricity generated by the 60 MW Hultema wind farm in Sweden, owned by Swiss infrastructure asset manager Reichmuth&Co and currently under construction. The PPA includes the annual supply of more than 130,000 MWh of wind power to the Borealis production facility in Stenungsund for the next ten years. Delivery will begin in January 2024.For Borealis, the agreement with Axpo Nordic will help significantly boost the company’s share of renewable energy used by its Stenungsund facility. Under the PPA, the renewable electricity generated will reduce the indirect carbon dioxide emissions (defined as Scope 2 emissions by the Greenhouse Gas Protocol) at its Swedish operations by approximately 10,000 tons per year. The deal will also move the company closer to realising its sustainability-related goals. These include increasing the share of renewables in its electricity mix to 40% by 2025, and ensuring that by 2030 100% of the electricity used to power its polyolefins and hydrocarbons operations is from renewable sources.

Borealis Inks Renewable Power PPA with Sand Axpo Nordic

Related Stories