Introduction:
In an unprecedented move towards a sustainable future, Vattenfall and Borealis have inked their first long-term renewable hydropower purchase agreement (PPA) in Sweden. This collaboration signifies a major leap in the pursuit of decarbonization, providing Borealis' operations in Stenungsund with 175 GWh per year of clean energy from Vattenfall's hydropower plants. Join us as we delve into the details of this groundbreaking partnership and its implications for the environment and the industry.
A Sustainable Synergy:
The partnership between Vattenfall and Borealis marks a significant stride in achieving their shared sustainability goals. By supplying Borealis' Stenungsund facility with renewable energy from the Lule River's hydropower plants, Vattenfall underscores its commitment to fostering a fossil-free future. This agreement not only aligns with Borealis' ambitious sustainability targets but also reinforces Vattenfall's aspiration to become a leading provider of corporate PPAs, according to Branislav Slavic, Head of Customers & Solutions Nordics at Vattenfall.
Emissions in Decline:
The new PPA is expected to have a profound impact on reducing Borealis' Scope 2 emissions, with an anticipated decrease of about 6,800 metric tons per year from its Stenungsund facility. Over the ten-year duration of the agreement, this translates to a total reduction of 68,250 metric tonnes in Scope 2 emissions. Wolfram Krenn, Executive Vice President of Base Chemicals & Operations at Borealis, emphasizes that this partnership is a crucial step towards meeting their Energy & Climate targets and significantly increases the share of renewable electricity in their operations.
The Road to Renewables:
This collaboration is a pivotal moment for Borealis as it advances towards its goal of using 100 percent renewable electricity in the production processes of its Polyolefins and Base Chemicals operations by 2030. The long-term commitment to hydropower not only showcases Borealis' dedication to sustainable living but also sets a benchmark for the industry to follow in the transition to renewable energy sources.
Conclusion:
The partnership between Vattenfall and Borealis is a testament to the power of collaboration in driving the transition to a more sustainable and decarbonized future. By harnessing the potential of hydropower, these two industry giants are not only reducing their environmental footprint but also paving the way for a cleaner, greener world. As we continue to witness the evolution of renewable energy initiatives, this alliance serves as an inspiring example of how companies can come together to make a positive impact on the planet.
The above analysis is proprietary to Enerdatics’ energy analytics team, based on the current understanding of the available data. The information is subject to change and should not be taken to constitute professional advice or a recommendation.
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