Borealis Partners with Alpiq for Long-Term Renewable Energy Supply from Finnish Wind Farm

Borealis Partners with Alpiq for Long-Term Renewable Energy Supply from Finnish Wind Farm

(IN BRIEF) Borealis, a leading provider of sustainable polyolefin solutions and base chemicals, has forged a long-term Power Purchase Agreement (PPA) with Alpiq, a Swiss energy services provider and European electricity producer. Under this agreement, starting from early 2024, Alpiq will deliver approximately 90 gigawatt hours (GWh) of renewable electricity annually to power Borealis’ production facilities in Porvoo, Finland, for nine years. This collaboration reflects the commitment of both companies to sustainability and their pursuit of climate neutrality goals. By increasing the use of renewable power in its Finnish operations, Borealis moves closer to its target of sourcing 100% of electricity consumption from renewable sources for its Polyolefins and Base Chemicals divisions. Additionally, this partnership is expected to reduce around 45,600 metric tons of Scope 2 emissions annually, contributing to the Finnish chemical sector’s ambition to achieve carbon neutrality by 2045. Wolfram Krenn, Borealis Executive Vice President Base Chemicals & Operations, emphasized the significance of this step in advancing the energy transition and sustainability goals, while Matti Ahtosalo, Head Northwest Europe at Alpiq, highlighted the importance of supporting industries in their decarbonization journey through such collaborations.

(PRESS RELEASE) VIENNA, 25-Oct-2023 — /EuropaWire/ — Borealis, one of the world’s leading providers of advanced and sustainable polyolefin solutions and a European market leader in base chemicals, has entered into a long-term PPA with Alpiq, a leading Swiss energy services provider and electricity producer in Europe, to source renewable electricity from the Finnish wind farm Merkkikallio, owned by Renewable Power Capital. As of beginning of 2024, Alpiq will supply around 90 gigawatt hours (GWh) per year of renewable energy to power Borealis’ 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.

Sustainability is deeply embedded in both Borealis’ and Alpiq’s corporate strategy and purpose. With the long-term PPA now in place, both companies are taking a substantial stride forward in the transition to cleaner energy. The new PPA between Borealis and Alpiq is also making a substantial contribution to the Finnish chemical sector’s aspirations to attain carbon neutrality by 2045. Borealis continues to advance toward its goal of securing 100% 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 an estimated reduction of around 45.600 metric tons of Scope 2 emissions (CO2 emissions resulting from the generation of purchased electricity consumed by the company) annually, or a reduction of 410 metric kilo tons Scope 2 emissions over the course of the nine-year PPA at Borealis’ operations in Porvoo.

“With the signing of this agreement, Borealis takes a significant step toward realizing its ambitious Energy & Climate goals, demonstrating its commitment to advancing the energy transition. This partnership holds special significance, as it propels Borealis beyond the pivotal threshold of sourcing over 50% of our electricity from renewable sources for our operations in Porvoo,” states Wolfram Krenn, Borealis Executive Vice President Base Chemicals & Operations. “Our dedication to reinventing for more sustainable living begins within our own operations.”

“The collaboration with the industry leader to support its sustainability goals is a milestone for us,” says Matti Ahtosalo, Head Northwest Europe at Alpiq. “With our Europe-wide origination business, we can utilize our renewable energy portfolio and support industries in their journey to decarbonize their processes. Through such agreements, we find long term solutions that on one hand guarantee our client a carbon free electricity supply and on the other hand facilitate the integration of renewable energy sources into the market.”

About Borealis
Borealis is one of the world’s leading providers of advanced and sustainable polyolefin solutions. In Europe, Borealis is also an innovative leader in polyolefins recycling and a major producer of base chemicals. We leverage our polymer expertise and decades of experience to offer value-adding, innovative and circular material solutions for key industries such as consumer products, energy, healthcare, infrastructure and mobility.

With operations in over 120 countries and head offices in Vienna, Austria, Borealis employs around 6,000 people. In 2022, we generated a net profit of EUR 2.1 billion. OMV, the Austria-based international energy, fuels & feedstock and chemicals & materials company, owns 75% of our shares. The Abu Dhabi National Oil Company (ADNOC), based in the United Arab Emirates (UAE), owns the remaining 25%.

In re-inventing essentials for sustainable living, we build on our commitment to safety, our people, innovation and technology, and performance excellence. We are accelerating the transformation to a circular economy of polyolefins and expanding our geographical footprint to better serve our customers around the globe. Our operations are augmented by two important joint ventures: Borouge (with ADNOC, headquartered in the UAE); and Baystar™ (with TotalEnergies, based in the US).
www.borealisgroup.com | www.borealiseverminds.com

About Alpiq
Alpiq is a leading Swiss energy services provider and electricity producer that operates throughout Europe. It offers its customers comprehensive and efficient services in the fields of energy generation and marketing as well as energy optimisation. Alpiq has been generating climate-friendly and sustainable electricity from carbon-free Swiss hydropower for more than 100 years. The power plant portfolio also comprises shares in two Swiss nuclear power plants as well as flexible thermal power plants, wind farms and photovoltaic facilities in Europe. Alpiq Holding Ltd. is a private stock corporation in majority private ownership. It is fully controlled by the three shareholder groups of Schweizer Kraftwerksbeteiligungs-AG (SKBAG), the Consortium of Swiss Minority Shareholders (KSM) and EOS Holding SA (EOS). The Alpiq Group has around 1,200 employees and is headquartered in Lausanne, Switzerland.

Media Contact:

Group Media Desk
+43 1 22 400 899 (Vienna, Austria)
media@borealisgroup.com

SOURCE: Borealis AG