Swiss utility Axpo Holding AG announced on Wednesday that it has signed a power purchase agreement (PPA) to supply electricity from a new 60-MW wind farm in Sweden to Borealis AG.
Under the agreement, Borealis, Austrian chemicals company which produces polyethylene in Sweden, procured more than 130 GWh of wind power per year for its production site in Stenungsund. The PPA specifies ten years worth of power deliveries starting from January 2024, Axpo said.
The contracted volume will come from the Hultema wind farm, owned by Swiss infrastructure asset managed Reichmuth & Co. The wind farm is currently under construction.
Axpo landed the contract via its unit Axpo Nordic.
For Borealis, the PPA will enable its Stenungsund facility to boost the share of renewable energy its uses for operations and reduce scope 2 CO2 emissions. The Austrian polyolefin specialist has set the overall goal to increase the share of renewables in its mix to 40% and 2025 and 100% by 2030.
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