Wind developer WPD completes agreement with Finland’s K Group

24 June 2020 (Last Updated August 18th, 2020 05:03)

Offshore wind developer WPD has concluded a power purchase agreement with Finnish retail chain operator K Group.

Wind developer WPD completes agreement with Finland’s K Group
Finnish retailer K Group and generator WPD have entered a 15-year PPA. Credit: Matt Artz on Unsplash.

Offshore wind developer WPD has concluded a power purchase agreement (PPA) with Finnish retail chain operator K Group.

Under the terms of the 15-year PPA, WPD has agreed to supply more than 40GWh of clean energy a year to K Group from its Finnish farm.

WPD Finland managing director Heikki Peltomaa said: “WPD is proud to support K Group on its way to counteract climate change by using electricity from wind power.

“As we all know climate protection measures are extremely necessary and K Group is leading by example on how this can be done.”

K Group operates retail chains in Finland and northern Europe, covering an extensive range of products. Since 2017, the company has sourced clean renewable electricity to power its Finnish stores.

The final agreement between K Group and WPD will make a ‘significant’ contribution to increasing K Group’s renewable consumption by six times by the end of 2022 while promoting energy turnaround in the country.

K Group corporate responsibility vice-president Matti Kalervo said: “K Group is strongly committed to mitigating climate change, for example by purchasing electricity from renewable energy sources and also by improving the energy efficiency of our operations, which is to be increased by 10% until 2023.

“At K Group, we intend to minimise our emissions by the year 2025. Our objective is to eventually have no need for compensation and make our operations emissions-free by 2030. The cooperation with an experienced partner like WPD will help us to achieve our goals.”

In April 2020, WPD strengthened its presence in Taiwan by signing a joint venture agreement with Taiwan Green Power (TGP).