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Energy trader Axpo signs two more Borealis PPAs

RICHARD HEAP

February 15, 2024

Energy trader Axpo has signed two power purchase agreements to supply chemicals company Borealis with wind power for its facilities in Belgium and Sweden.

Axpo has signed a ten-year PPA to supply 125GWh of electricity annually to power Borealis facilities in Stenungsgund, Sweden, from Lake Habo wind farm. The wind farm is owned by an infrastructure fund run by Vauban Infrastructure Partners.

Axpo has also signed a ten-year PPA to supply 70GWh annually to power Borealis sites in Belgium. The electricity comes from wind turbines owned by Wind aan de Stroom on the left bank of the Port of Antwerp.

These are the fourth and fifth PPAs between Axpo and Borealis.

Domenico De Luca, head of trading and sales at Axpo, said: “Power purchase agreements are proving key to advancing the energy transition and we’re pleased to work with companies like Borealis who are committed to securing a sustainable future.”

Wolfram Krenn, executive vice president of base chemicals and operations, said: “Our long-term partnership [with Axpo] signifies our dedication to re-inventing essentials for sustainable living, accelerating our journey towards ensuring all electricity for our operations comes from renewable sources by the end of this decade.”

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