World News

World News21.02.2024

Axpo, Borealis sign two wind PPAs

QAZAQ GREEN. Axpo has signed new power purchase agreements (PPAs) with chemicals producer Borealis for electricity supplied by wind farms in Sweden and Belgium, Renews.biz reports.

They are the fourth and fifth PPAs signed by the companies since 2021 and both have a 10-year duration.  

In January 2024, Axpo began the supply of 125GWh of renewable energy a year to Borealis facilities in Stenungsund, Sweden from its Lake Wind facility in Habo, owned by an infrastructure fund managed by Vauban Infrastructure Partners.

At the same time, Axpo commenced delivery of 70GWh a year of wind-generated power to Borealis sites in Belgium, sourced from turbines on the left bank of the Port of Antwerp, surrounding the Borealis Kallo site, and owned by Wind aan de Stroom.

Axpo head of trading and sales Domenico De Luca said: “We are delighted to continue to partner with Borealis.

“Thanks to Axpo’s decade-long experience managing a sizable renewable energy portfolio, we can offer tailored energy solutions for large pan-EU organisations across multiple countries in what has become a new trend across energy markets.”

Borealis executive vice president base chemicals & operations Wolfram Krenn added: "We are thrilled to announce these additional two major PPA with Axpo, reinforcing our commitment to driving the energy transition despite market challenges.

“Our long-term partnership signifies our dedication to re-inventing essentials for sustainable living, accelerating our journey towards ensuring all electricity for our operations comes from renewable sources by the end of this decade."

 

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