Vienna-based petrochemicals group Borealis and Switzerland's largest producer of renewable energy, Axpo, signed two new long-term deals for 195 gigawatt-hours (GWh) of renewable energy for sites in Sweden and Belgium, the companies announced on Thursday.
“The ten-year deals in Sweden and Belgium were signed in 2023 and follow three earlier long-term agreements with Axpo, which were concluded in 2023, 2022, and 2021,” both companies said in separate statements.
Axpo started supplying 125 GWh of renewable energy annually to Borealis facilities in Stenungsund, Sweden, last month, the statement said, while further stating that the green electricity is generated from the onshore wind farm Lake Wind AB in Sweden.
At the same time, Axpo started delivering 70 GWh per year of wind power to Borealis’ sites in Belgium, and this renewable energy is sourced from wind turbines located on the left bank of the Port of Antwerp.
Hailing the partnership with Borealis, Domenico De Luca, the head of trading and sales at Axpo, said: “Thanks to Axpo's decade-long experience managing a sizable renewable energy portfolio, we can offer tailored energy solutions for large pan-EU organizations across multiple countries in what has become a new trend across energy markets.”
For his part, Wolfram Krenn, the executive vice president of base chemicals and operations at Borealis, said: “We are thrilled to announce these additional two major power purchase agreements with Axpo, reinforcing our commitment to driving the energy transition despite market challenges.”
Borealis is ramping up green power, aiming for 100% renewable electricity by 2030. New deals with Axpo will reduce annual emissions by 14,955 tonnes – which means 149,550 tonnes over 10 years, according to the statement.
The Austria-based international energy company OMV owns 75% of Borealis’ shares, while the Abu Dhabi National Oil Company (ADNOC) owns the remaining 25%.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr