The agreement, which commenced in January 2024, will see Vattenfall supplying Borealis' operations in Stenungsund with 175 GWh per year of clean, renewable hydropower. This collaboration underscores both companies' commitment to sustainability and marks a significant stride towards reducing carbon emissions in the region.
"We strive to support our customers in achieving their sustainability goals so we are pleased about the cooperation with Borealis and the opportunity to provide energy solutions that meet Borealis’ ambitious sustainability targets,” said Branislav Slavic, Head of Customers & Solutions Nordics Vattenfall. “The agreement makes it possible for Borealis to have a long-term power deal based on fossil free production. The partnership also underlines our ambition to become a leading provider of corporate PPAs.”
This development represents a notable move towards decarbonisation, as the renewable electricity generated through the new PPA is anticipated to result in a reduction of approximately 6,800 metric tons per year in Borealis' Scope 2 emissions from its Stenungsund1 facility. Over the course of the ten-year PPA, this will amount to a total of 68,250 metric tonnes of prevented Scope 2 emissions.
"By partnering with Vattenfall for this ten-year Power Purchase Agreement, we are taking a major step towards achieving our ambitious Energy & Climate targets, showcasing our dedication to re-inventing essentials for sustainable living,” commented Wolfram Krenn, Executive Vice President Base Chemicals & Operations. ‘This long-term collaboration carries significant importance, catapulting Borealis beyond the critical milestone of securing over 40 per cent of our electricity for our Polyolefins and Base Chemicals operations from renewable sources well ahead of time.”
This agreement moves Borealis closer to its goal of utilizing 100 percent renewable electricity in the production processes of its Polyolefins and Base Chemicals segments by 2030.
