Wpd signs 15-year PPA for Finnish wind farm with K Group

Wpd AG today said it has recently inked a 15-year power purchase agreement (PPA) with Finnish retail company K Group for a wind farm in Finland.

As part of the agreement, K Group will buy over 40 GWh of power a year from Wpd. The contract is set to boost the share of renewable power in the company's overall consumption six-fold by the end of 2022.

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Renewable power already covers 100% of the electricity needs of its stores and other properties in Finland since 2017.

"At K Group, we intend to minimize our emissions by the year 2025. Our objective is to eventually have no need for compensation, and make our own operations emissions free by 2030," K Group's vice president for corporate responsibility Matti Kalervo noted.

So far, Wpd has secured corporate PPAs for about 260 MW of renewable capacity in Northern Europe. The company has wind project pipelines of about 1,000 MW in each of Sweden and Finland, and is already in talks with potential PPA partners. In February, Wpd signed a PPA with pulp and paper manufacturer UPM Kymmene for power from a 192-MW wind farm in Finland.