Borealis, one of the world’s leading providers of advanced and sustainable polyolefin solutions and a European market leader in base chemicals, and Axpo, Switzerland’s largest producer of renewable energy and an international leader in the trading and marketing of solar and wind power, have again joined forces and signed their fourth and fifth power purchase agreements (PPA). The ten-year deals in Sweden and Belgium were signed in 2023 and follow three earlier long-term agreements with Axpo which were concluded in 2023, 2022 and 2021.

As of January 2024, Axpo has begun the supply of 125 GWh per year of wind energy to Borealis facilities in Stenungsund, Sweden. Under the ten-year agreement, renewable electricity will be provided by the onshore wind farm Lake Wind AB, in Habo, Sweden, owned by an infrastructure fund managed by Vauban Infrastructure Partners.

At the same time, Axpo has started delivering 70 GWh per year of wind power to Borealis’ sites in Belgium for the next ten years. This renewable energy is sourced from wind turbines located on the left bank of the Port of Antwerp, surrounding the Borealis Kallo site, and owned by Wind aan de stroom.

"We are thrilled to announce these additional two major Power Purchase Agreements with Axpo, reinforcing our commitment to driving the energy transition despite market challenges. Our long-term partnership 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," states Wolfram Krenn, Borealis Executive Vice President Base Chemicals & Operations.

Axpo Head of Trading and Sales, Domenico De Luca, says: “We’re delighted to continue to partner with Borealis. Thanks to Axpo’s decade-long experience managing a sizable renewable energy portfolio, we can offer tailored energy solutions for large pan-EU organizations across multiple countries in what has become a new trend across energy markets. 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.”