Fortum and Borealis Sign Eight-Year Wind Power Agreement

Fortum and Borealis have signed a long-term power purchase agreement (PPA) to source renewable electricity from two onshore wind farms currently under construction in Finland. The Pjelax-Böle and Kristinestad Norr projects, which began construction in January 2022, are expected to be operational by mid-2024. Under the eight-year contract, Borealis will receive over 800 gigawatt-hours (GWh) of renewable power.

The energy will support Borealis' operations in Porvoo, Finland, with the company anticipating a reduction in Scope 2 emissions by approximately 28,000 tons annually. This deal marks a significant step toward Borealis' corporate target of sourcing at least 50% of its European energy from renewable sources by 2030, representing a 20% progress milestone upon the project's launch.

Fortum, which retains majority ownership and operational control of the wind farms, produces approximately 1.1 terawatt-hours (TWh) of electricity annually from the combined sites. The agreement highlights the broader industrial trend in Finland of chemical manufacturers partnering with energy producers to secure decarbonized supply chains as the sector works toward national carbon neutrality goals by 2045.