Borealis to green Belgian, Swedish ops under PPAs with Axpo

Swiss power producer and energy trader Axpo Holding AG today said it has signed two power purchase agreements (PPAs) to deliver electricity from Belgian and Swedish onshore wind parks to Austrian polyolefins producer Borealis AG.

The deals, both with 10-year terms, follow similar agreements signed during the past three years. All of them back Borealis’ goal to increase the share of renewable power used in its own production operations to 40% by 2025 and to 100% by 2030.

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Under the first contract, Axpo will deliver 125 GWh of green power to its client from the Lake Wind AB park in Sweden’s Habo municipality. Supplies from the plant owned by an infrastructure fund managed by Vauban Infrastructure Partners began in January.

In the meantime, Borealis has started receiving power from wind turbines at Belgium’s Port of Antwerp, located in proximity to its production site in Kallo and owned by Wind aan de Stroom. The PPA calls for Axpo to deliver 70 GWh annually to the chemicals group.

The latest deals are the fourth and fifth off-take agreements between Axpo and Borealis. According to Axpo’s estimates, they will help Borealis cut roughly 150 tonnes of Scope 2 emissions during the contracted period.