Borealis/Axpo in PPAs for renewable electricity in Belgium
Austrian polyolefins supplier Borealis and Axpo, Switzerland’s largest energy producer and an international leader in energy trading and the marketing of solar and wind power, signed two new long-term power purchase agreements (PPAs). Over the past four years, Axpo and Borealis have signed several long-term deals in Belgium as well as in Sweden and Finland. The two new PPAs will see Axpo deliver more than 900 GWh of wind power procured from Vleemo nv, a Flemish energy company specialising in sustainable wind power projects. The long-term agreements run until the end of 2030 and end of 2035, respectively, with delivery starting in 2026.
Operating on the banks of the river Scheldt in the port of Antwerp, Vleemo’s wind turbines will provide renewable electricity to reduce Borealis’ Scope 2 emissions by approximately 155 kilotonnes over a period of ten years. Reducing indirect CO2 equivalent emissions in Borealis’ operations is in line with Borealis’ goal of sourcing 100% of its electricity from renewable sources by 2030, which in turn benefits Borealis’ customers.
“I’m delighted to continue our partnership with Borealis. These new and additional agreements demonstrate Axpo’s long-term commitment to our clients in delivering innovative and renewable energy solutions that meet their energy requirements,” Axpo Head of Origination for Eastern and Western Europe, Domenico Franceschino says. “Thanks to Axpo’s decade-long experience managing a significant renewable energy portfolio, we can offer large pan-European organisations the ability and flexibility to deliver their sustainable energy commitments and support the energy transition. We appreciate the opportunity to work with companies like Borealis and Vleemo, who share our commitment to securing a sustainable future.”
“Signing another two new PPAs with Axpo, in cooperation with Vleemo, based in Belgium and close to our operations, is a continuation of our strategic sustainability journey,” says Thomas Van De Velde, Borealis Senior Vice President Base Chemicals and Energy. “At the same time, it underscores our commitment to strengthen relationships with local renewable energy providers in the communities where we operate – this is how we keep reinventing essentials for sustainable living.”
“These deals mark a significant milestone in our efforts to secure more PPAs with companies active in the Port of Antwerp in the coming years,” Vleemo CEO David Daggelinckx added. “Our company is proud to play a pioneering role alongside Borealis and Axpo, setting an example in the industry. Vleemo aims to expand its collaborations, contributing to sustainable energy solutions within the region through providing locally produced renewable energy.”
