Borealis signs first long-term power purchase agreement with Alpiq to supply renewable energy to Borealis production operations in Finland

• New Power Purchase Agreement (PPA) moves Borealis closer to goal of powering 100% of its Polyolefins and Base Chemicals operations with renewable electricity by 2030
• New wind farm project to significantly reduce Scope 2 emissions at Borealis operations in Porvoo, Finland

Borealis, one of the world’s leading providers of advanced and sustainable polyolefin solutions and a European market leader in base chemicals, has entered into a long-term PPA with Alpiq, a leading Swiss energy services provider and electricity producer in Europe, to source renewable electricity from the Finnish wind farm Merkkikallio, owned by Renewable Power Capital. As of beginning of 2024, Alpiq will supply around 90 gigawatt hours (GWh) per year of renewable energy to power Borealis’ production facilities in Porvoo, Finland, over the course of nine years. This significant partnership takes both Borealis and Alpiq closer to achieving their climate neutrality goals.

Sustainability is deeply embedded in both Borealis’ and Alpiq’s corporate strategy and purpose. With the long-term PPA now in place, both companies are taking a substantial stride forward in the transition to cleaner energy. The new PPA between Borealis and Alpiq is also making a substantial contribution to the Finnish chemical sector's aspirations to attain carbon neutrality by 2045. Borealis continues to advance toward its goal of securing 100% of its electricity consumption from renewable sources for its Polyolefins and Base Chemicals divisions by boosting the proportion of renewable power used in its Finnish production facilities. Furthermore, through the PPA with Alpiq, the renewable electricity produced will lead to an estimated reduction of around 45.600 metric tons of Scope 2 emissions (CO2 emissions resulting from the generation of purchased electricity consumed by the company) annually, or a reduction of 410 metric kilo tons Scope 2 emissions over the course of the nine-year PPA at Borealis' operations in Porvoo.

"With the signing of this agreement, Borealis takes a significant step toward realizing its ambitious Energy & Climate goals, demonstrating its commitment to advancing the energy transition. This partnership holds special significance, as it propels Borealis beyond the pivotal threshold of sourcing over 50% of our electricity from renewable sources for our operations in Porvoo," states Wolfram Krenn, Borealis Executive Vice President Base Chemicals & Operations. "Our dedication to reinventing for more sustainable living begins within our own operations.”

“The collaboration with the industry leader to support its sustainability goals is a milestone for us,” says Matti Ahtosalo, Head Northwest Europe at Alpiq. “With our Europe-wide origination business, we can utilize our renewable energy portfolio and support industries in their journey to decarbonize their processes. Through such agreements, we find long term solutions that on one hand guarantee our client a carbon free electricity supply and on the other hand facilitate the integration of renewable energy sources into the market.”

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This media release is also available in German and Finnish language.