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Finland's Neste signs 60-MW wind power off-take contract with Fortum

Wind turbines. Photo by: Fortum (www3.fortum.com).

October 22 (Renewables Now) - Finnish renewable diesel producer Neste Corp (HEL:NESTE) has signed a 12-year contract with Fortum Oyj (HEL:FORTUM) to purchase more than 60 MW of wind power.

Under the terms of the deal, Neste will buy about 70% of the production at the 90-MW Kalax wind farm that is currently being built in Narpes, Ostrobothnia. Wind power deliveries are expected to start in early 2021.

The electricity purchased from that wind park will be enough to cover around 20% of the power demand at the Neste Porvoo and Naantali sites, the company said on Tuesday. This will reduce the indirect carbon dioxide (CO2) emissions of electricity purchases at the sites by about 40 kilotons a year.

“In addition to offering renewable and circular solutions to our customers, we are also committed to reducing the carbon footprint of our own production. Investments in renewable energy are one part of this,” commented Peter Vanacker, Neste’s President and CEO.

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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