Umicore to buy Finnish wind power under PPA with Statkraft

Umicore's Kokkola refinery in Finland. Source: Umicore SA.

September 15 (Renewables Now) - Belgian materials technology company Umicore SA (EBR:UMI) has signed a 10-year wind power purchase agreement (PPA) with Norwegian clean energy group Statkraft A/S so it could partially cover the electricity needs of its refinery in Kokkola, Finland.

Under the terms of the deal unveiled on Thursday, Umicore will be buying about 60 GWh of electricity per year until 2033 that is certified with guarantees of origin from the 96.9-MW Nuolivaara wind farm.

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Umicore has set a goal to achieve net-zero greenhouse gas emissions by 2035 for both scope 1 and scope 2 emissions. In Kokkola, the company makes precursor cathode active materials and refines cobalt used in rechargeable batteries for electric vehicles (EVs).

The Nuolivaara project envisages the construction of a zero-subsidy wind farm with 17 turbines. The facility should be commissioned next year.

In November 2021, German renewables developer Wpd AG said it had reached financial close for the particular wind project.

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