Gasum joins forces with Stena Renewable in Sweden to deliver wind power to Borealis
Gasum has signed a 10-year-agreement to deliver wind-generated renewable energy to Borealis AB’s facility in Sweden. The power will be supplied by Gasum’s partner Stena Renewable AB. The partnership evidences Gasum’s core strategy to provide cleaner energy for industrial customers also in Sweden.
Gasum has signed a long-term agreement with Borealis to deliver wind power to their facility in Stenungsund located on the west coast of Sweden. The power will be generated by Gasum’s partner Stena Renewables at their wind park in Kronoberget, southern Sweden.
The deal will secure a supply of renewable energy for Borealis for the next ten years, helping them reach their climate targets. Borealis provides innovative solutions in the fields of polyolefins, base chemicals, and fertilizers. The company has 6,900 employees in over 120 countries, and it is the only polyethylene producer operating in Sweden. Wind-generated energy will reduce Borealis’ indirect CO2 emissions at its Stenungsund plant by approximately 10,000 tonnes a year.
“Borealis is determined to reach ambitious goals set in our focus area of Energy & Climate. Thanks to the long-term PPA with Gasum and Stena Renewable, sourcing 50% of energy consumed in our operations from renewable sources by 2030 has now become even more tangible. We are pleased to have signed yet another PPA that allows us to maintain competitiveness in the marketplace while bringing about a carbon-neutral future. This is what we mean by re-inventing for more sustainable living,” says Martijn Van Koten, Executive Vice President Base Chemicals and Operations, Borealis.
Breakthrough for both Gasum and Stena Renewable
The agreement is a breakthrough for Gasum, strengthening its role in the sustainable energy business in Sweden. The partnership evidences Gasum’s strategy to increase the supply of cleaner energy across the Nordics, especially as both Borealis and Stena Renewables have ambitious sustainability targets for the future.
“Wind power will play a crucial role in the transition to a cleaner energy future. We are pleased to have signed this long-term PPA for the supply of clean energy from Stena Renewable to Borealis’ operations in Stenungsund. This partnership aligns perfectly with our overarching aim to provide the most comprehensive services available on the energy market to meet growing energy needs, while at the same time mitigating global warming,” says Anders Malm, Senior Vice President, Portfolio Management and Trading, Gasum.
Stena Renewable has 115 wind turbines of which 16 are in Kronoberget. It is one of the major Swedish companies generating wind power and currently has an additional 90 wind turbines under construction. The Kronoberget wind park generates approximately 200 GWh of energy each year. Stena Renewable aims to add 500 GW of wind power a year to the Nordic energy system.
“It has long been our goal to sign a PPA of this kind with a major industrial player like Borealis. We are delighted and impressed by the long-term commitment Borealis has made to reduce its carbon footprint. This agreement ensures that Borealis will have access to clean and cost-efficient energy for its Stenungsund operations for a good while to come,” says Peter Zachrisson, CEO of Stena Renewable.
For further information, please contact:
Anders Malm
Senior Vice President, Portfolio Management and Trading, Gasum
Phone. +46 70 450 1627, anders.malm@gasum.com
Virginia Mesicek
Senior Manager External Communications, Borealis Group
Phone. +43 1 22 400 772, virginia.mesicek@borealisgroup.com
Peter Zachrisson
CEO, Stena Renewable AB
Phone. +46 70 485 53 93, peter.zachrissson@stena.com
The energy company Gasum is a Nordic gas sector and energy market expert that together with its partners, promotes development towards a carbon-neutral future.
Borealis is one of the world’s leading providers of advanced and circular polyolefin solutions and a European market leader in base chemicals, fertilizers and the mechanical recycling of plastics. We leverage our polymers expertise and decades of experience to offer value adding, innovative and circular material solutions for key industries. In re-inventing for more sustainable living, we build on our commitment to safety, our people and excellence as we accelerate the transformation to a circular economy and expand our geographical footprint. With head offices in Vienna, Austria, Borealis employs 6,900 employees and operates in over 120 countries. In 2020, Borealis generated EUR 6.8 billion in sales revenue and a net profit of EUR 589 million. OMV, the Austria-based international oil and gas company, owns 75% of Borealis, while the remaining 25% is owned by a holding company of the Abu-Dhabi based Mubadala. We supply services and products to customers around the globe through Borealis and two important joint ventures: Borouge (with the Abu Dhabi National Oil Company, or ADNOC, based in UAE); and Baystar™ (with Total, based in the US).
Stena Renewable is proud to be at the forefront of the ongoing transition to climate compatible energy production. Stena Renewable invests in wind as a vital, efficient and sustainable form of energy by engaging in the project management, construction, and asset management of its own wind farms. Stena Renewable currently owns and operates 115 wind turbines, and an additional 90 turbines are presently under construction. Stena Renewables is jointly owned by the Swedish investment company Stena Adactum, Swedish pension fund AMF, and the Norwegian pension fund KLP.
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