The New Year brings new power to Stenungsund, Sweden: ten-year power purchase agreement for wind signed by Borealis, Gasum and Stena Renewable

• Power purchase agreement (PPA) signed by Borealis with Gasum to source power from wind farm owned and operated by Stena Renewable
• Borealis secures Kronoberget wind farm output for next ten years to power its production operations in Stenungsund, Sweden
• This PPA is the fourth and largest to date for Borealis, putting the company another step closer to its goal of sourcing 50% of total electricity consumption from renewable sources in major business areas

Borealis has signed a long-term power purchase agreement (PPA) with the Finnish energy company Gasum to source renewable electricity from an onshore wind farm located around 250 km from Borealis operations in Stenungsund, Sweden. Over the next ten years, Borealis will procure the output – estimated at 2,000 gigawatt hours (GWh) – from the Kronoberget wind farm, which is owned and operated by Swedish energy company Stena Renewable. Commissioned in December 2019, the new wind farm encompasses sixteen 3.8 megawatt (MW) wind turbines that generate a total annual output of approximately 200 GWh per year. Delivery of renewable electricity to Borealis in Stenungsund began on 1 January 2021.

On the heels of long-term agreements signed by Borealis in 2020 with Ilmatar Energy and Eneco, this PPA is the fourth and largest to date. It marks a significant step forward towards the achievement of strategic energy and climate targets: by 2030, the Borealis Group aims to source 50% of its energy needs for its Polyolefins and Hydrocarbon & Energy business areas from renewable sources. The renewable electricity generated within the framework of this agreement will reduce Borealis’ indirect carbon dioxide emissions (defined as Scope 2 emissions by the Greenhouse Gas Protocol) at its Stenungsund operations by approximately 10,000 tons per year.
Gasum is a state-owned Finnish energy company active in natural gas, liquefied natural gas (LNG), biogas, power, and certificates. As a leading producer and supplier of biogas, and as a processor of biodegradable waste in the Nordic region, Gasum offers cleaner solutions to traditional fossil fuel-based energy sources. By helping its customers successfully navigate the energy transition to clean energy, Gasum is accelerating the shift to carbon neutrality.

“Borealis is determined to reach ambitious goals set in our focus area of Energy & Climate. Thanks to the long-term PPA with Gasum and Stena Renewable, sourcing 50% of energy consumed in our operations from renewable sources by 2030 has now become even more tangible,” says Martijn Van Koten, Borealis Executive Vice President Base Chemicals and Operations. “We are pleased to have signed yet another PPA that allows us to maintain competitiveness in the marketplace while bringing about a carbon-neutral future. This is what we mean by re-inventing for more sustainable living.”

“Wind power will play a crucial role in the transition to a cleaner energy future. We are pleased to have signed this long-term PPA for the supply of clean energy from Stena Renewable to Borealis’ operations in Stenungsund,” says Anders Malm, Gasum Senior Vice President, Portfolio Management and Trading. “This co-operation aligns perfectly with our overarching aim to provide the most comprehensive services available on the energy market to meet growing energy needs while at the same time mitigating global warming.”

Stena Renewable is on a mission to quicken the transition to a clean energy future by harnessing the power of wind. It builds and operates wind farms, currently managing 115 wind turbines across Sweden. Drawing on wind as an energy source helps reduce carbon emissions and lessens dependency on fossil fuels. To this end, Stena Renewable aims to add 500 GW of wind power per year to the Nordic energy system. “It has long been our goal to sign a PPA of this kind with a major industrial player like Borealis. We are delighted and impressed by the long-term commitment Borealis has made to reduce its carbon footprint,” says Peter Zachrisson, Stena Renewable CEO. “This agreement ensures that Borealis will have access to clean and cost-efficient energy for its Stenungsund operations for a lengthy time period.”

END

Media contacts:

Borealis:
Virginia Mesicek
Senior Manager External Communications
tel.: +43 1 22 400 772 (Vienna, Austria)
e-Mail: virginia.mesicek@borealisgroup.com

Gasum:
Anders Malm
Senior Vice PresidentPortfolio Management and Trading
tel. +46 70 450 1627 (Sweden)
e-Mail: anders.malm@gasum.com

Stena Renewable AB
Peter Zachrisson
CEO
tel.: +46 70 485 53 93 (Sweden)
e-Mail: peter.zachrissson@stena.com