Image: Borealis will receive power from a recently commissioned Finnish wind farm. Credit: Axpo Holding AG.

Axpo, a Swiss renewable energy producer, has reached an eight-year, power purchase agreement (PPA) with Austrian polyolefins recycler Borealis.

As per the agreement, Axpo will supply 100GWh of clean electricity annually.

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Borealis aims to power its European operations of polyolefins and hydrocarbons businesses areas using 100% renewable energy by 2030.

From next year, Axpo will supply the power generated from the recently commissioned wind farm in Kröpuln, in the west of Finland.

The new PPA is the second agreement between the two companies and follows a recent agreement signed last October.

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According to the prior agreement, Borealis will receive renewable power for a 10-year period. The energy will be used to power its operations in Stenungsund, Sweden, from January next year.

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Borealis base chemicals and operations executive vice president Wolfram Krenn said: “We are extremely pleased to sign this second major PPA with Axpo. It signals our commitment to driving the energy transition – even in the face of strong headwinds coming from a turbulent energy market.

“We are staying the course in our efforts to achieve our energy and climate targets, and are particularly interested in having a direct and positive impact on the communities and regions in which we are active. This is fully in line with Borealis’ purpose of re-inventing for more sustainable living.”

Axpo Sverige managing director Tomas Sjöberg said: “By expanding our collaboration with Borealis for renewable power in the Nordic countries, we are glad to have found a forward-looking partner that we can support in reaching their sustainability goals.”

Recently, Axpo, through its Polish unit Axpo Polska, enabled a unique balance service agreement to support solar power purchase by Nestlé Polska.