Borealis and Verbund Sign First Long-term Hydropower PPA to Supply Borealis Operations in Schwechat, Austria as of January 2023
- Ten-year power purchase agreement (PPA) to deliver power generated by two VERBUND hydropower plants on the Danube River
- Borealis moves ever closer to goal of using renewable energy to power 100% of production in Polyolefins and Hydrocarbons by 2030
- Borealis and VERBUND are driving decarbonisation efforts in Austria with their cross-sector partnerships in hydropower and solar energy generation and supply
Borealis, one of the world’s leading providers of advanced and sustainable polyolefin solutions, and a European front-runner in polyolefins recycling; and VERBUND, Austria’s leading energy company, announce that they have signed a ten-year power purchase agreement (PPA) to supply hydropower to Borealis operations in Schwechat, Austria, starting in January of 2023. The annual supply of around 220 gigawatt hours (GWh) of electricity from renewable sources is comparable to the amount of energy required to power 50,000 Austrian households for one year. VERBUND will supply power generated from two of its own Austrian hydropower plants on the Danube River, in Aschach and Abwinden-Asten. VERBUND, as one of the largest producers of hydroelectricity in Europe, generates around 97% of its electricity from renewable energy sources, and primarily from hydro.
The long-term agreement comes on the heels of the partners’ recently announced joint installation of a photovoltaic facility, also in Schwechat. The new PPA thus moves Borealis even closer to its goal of sourcing 100% renewable electricity for use in production in its major business areas of Polyolefins and Hydrocarbons by 2030. It is also a significant step towards decarbonisation: the renewable electricity generated within the framework of the new PPA will reduce Scope 2 emissions generated by Borealis at its Schwechat site by approximately 75,000 tons/year. As defined by the Greenhouse Gas Protocol, Scope 2 emissions are greenhouse gas (GHG) emissions generated on site using electricity purchased or otherwise acquired, as well as emissions generated by steam, heat, and cooling.
“The ambitious sustainability targets set forth in our Borealis Strategy 2030 are rapidly coming into reach, thanks in great part to our cross-sector partnership with VERBUND,” says Thomas Gangl, Borealis CEO. “Thanks to the around 2,200 GWh to be delivered by way of this PPA to our Schwechat operations over the next ten years, we are on track to achieve our 2030 goal of using 100% of electricity from renewable sources. These efforts are core components in our aim to re-invent essentials for sustainable living.”
“We are delighted to have entered into this long-term strategic agreement with Borealis. At VERBUND, our aim is to use our renewables know-how and experience to accompany our partners on the decarbonisation journey,” says Michael Strugl, VERBUND CEO. “The only way to reach ambitious climate and energy targets is through innovation, close collaboration, and perseverance. Together with our partner Borealis, we are driving the energy transition in Austria and all of Europe.”
www.borealisgroup.com
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