Borealis and Verbund have agreed on a 10-year power purchase agreement (PPA) for the supply of electricity from two of Verbund’s hydropower plants on the Danube to Borealis’ location in Schwechat, Austria.
The deal, which starts this month, will see around 220GWh of electricity delivered, which will aid in Borealis’ goal of operating its polyolefin and hydrocarbon production facilities entirely with renewable energy by 2030. Verbund will supply the hydroelectricity from its Aschach and Abwinden-Asten hydropower plants.
This long-term agreement follows the recently announced joint project to construct a photovoltaic facility, which will also be implemented in Schwechat.
“The ambitious sustainability targets of our Borealis Strategy 2030 are moving ever closer within reach, not least thanks to our cross-sector partnership with Verbund,” explained Thomas Gangl, CEO of Borealis. “Thanks to the approximately 2,200 GWh that will be supplied at our location in Schwechat in the next ten years under this PPA, we are ideally on course to achieve our goal of procuring 100% of the electricity from renewable sources by 2030. These measures show that we are constantly striving to find new ways to make our life even more sustainable.”
“We are very happy about our long-term strategic partnership with Borealis. Our goal at Verbund is to use our know-how and experience in the field of renewable energies to accompany our partners on the path to decarbonisation,” added Michael Strugl, CEO of Verbund. “The only way to achieve ambitious climate and energy targets leads via innovation, close collaboration and persistence. Together with our partner Borealis, we are advancing the energy transition in Austria and across Europe.”
Image: Aschach hydropower plant in Austria. Image courtesy of Verbund