Finland regions

Statkraft signs ten-year renewable PPA with Umicore in Finland

Norwegian state-owned energy company Statkraft has signed a power purchase agreement (PPA) with Umicore, a Belgium-based materials technology company.

The PPA will ensure the annual supply of 60 GWh of clean energy from 2024 to 2033 to power Umicore’s site in Kokkola, Finland.

The clean energy will be certified with guarantees of origin and delivered from the Nuolivaara wind farm in northern Finland.

With 17 wind turbines, the 96.9 MW onshore wind power plant is expected to be commissioned next year.

Mathias Miedreich, CEO of Umicore, said: “Clean energy agreements, such as the one we signed with Statkraft, allow Europe’s largest cobalt refinery and state-of-the-art cathode precursor facility to produce sustainably.

“In addition, they reduce Umicore’s Scope 2 emissions, as we use electricity as the main source of energy throughout our battery materials value chain, and they contribute significantly to securing our own energy supplies, at a competitive cost, for the next decade.

Umicore’s manufacturing plant in Kokkola produces precursor cathode active materials and refines cobalt used in rechargeable batteries for electric cars.

As part of its environmental, social and governance (ESG) strategy “Let’s go for Zero”, Umicore has set itself the target of achieving net zero greenhouse gas emissions by 2035.

The company initially aims to reduce its emissions by 20% by 2025 compared to their 2019 baseline.

Hallvard Granheim, Executive Vice President of Statkraft Markets, said: “We are proud to support Umicore in Finland with this PPA to reduce their carbon dioxide emissions and contribute to their sustainability goals.

“As the largest producer of renewable energy in Europe, we at Statkraft aim to be a major partner for industrial customers in the Nordic region and believe that our solutions should meet the needs of our customers.”

Last October, Statkraft purchased 39 onshore wind farms in Germany and four in France from Breeze Three Energy.

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