July 6, 2020

Neste and Borealis sign long-term power purchase agreements with Ilmatar

Industrial companies Neste and Borealis have signed 10-year wind power purchase agreements (PPAs) with Ilmatar. The long-term agreements will for their part ensure a significant addition of renewable energy to the Finnish grid.

The joint agreement with long-term partners Neste and Borealis will last for 10 years. The companies will source CO2 neutral energy produced with a nominal capacity of c. 50 MW from Ilmatar. Delivery of electricity from the new facilities is expected to begin during 2022. 

– These long-term power purchase agreements will add a significant amount of domestic wind energy to the Finnish grid and once again highlight Ilmatar’s role as one of the leading companies pushing to achieve carbon neutrality in Finland. It is great to see companies like Neste and Borealis taking steps to help the environment by committing to wind power, which is not only a clean form of energy, but also the most cost-effective form of energy production for industrial purposes, says Erkka Saario, VP Projects at Ilmatar. 

With the help of wind power delivered by Ilmatar, Neste and Borealis will reduce their indirect carbon dioxide emissions at their Finnish facilities by approximately over 30 kilotons/year. The share of wind power of the total electricity consumption at the Neste Porvoo and Naantali sites will grow to around 30%, while Borealis increases the share of renewable power in its overall electricity consumption at its production facilities in Porvoo to 13%.

– According to a recent estimate of Finnish Energy, the electrification of industry and other parts of the society will demand a 50% addition in electricity consumption in the coming decades. Renewable energy has a crucial role in Finland and the whole EU area reaching the set climate goals. Ilmatar’s aim is to add 1000 MW of new, domestic wind power production to the Finnish grid in the coming years. These long-term agreements are an important milestone in reaching that goal, Saario comments. 

Additional information: 

Ilmatar: Erkka Saario, VP Projects at Ilmatar, tel. +358 40 355 7007, email erkka.saario@ilmatar.fi

Neste: Please contact Neste’s media service, tel. +358 50 458 5076 / media@neste.com (weekdays from 8:30 a.m. to 4:00 p.m. (EET)).

Borealis: Virginia Mesicek, Senior Manager a.i., External Communications, tel. +43 1 22 400 772, email virginia.mesicek@borealisgroup.com

Ilmatar develops, constructs, owns and operates wind farms with a target of raising Finnish wind power production capacity by 1000 MW in the coming few years. Ilmatar also sells electricity produced by wind power to both consumers and companies. www.ilmatar.fi