Vattenfall said it will deliver energy from its Nordic hydropower plants to Neste in Finland beginning 1 January 2022.
The hydropower agreement is for 800 GWh of electricity purchased with Guarantees of Origin (GOs), an electronic document that provides proof of the source of a given quantity of renewable energy.
Neste is one of the world’s largest producers of renewable diesel and aviation fuel refined from waste and residues. Neste has been a Vattenfall customer since 2019, and the new agreement is valid until 2024.
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Vattenfall has a goal to enable fossil-free living within one generation. A news release said the partnership with Neste is a good example of how Vattenfall can support customers’ efforts to reach their climate goals by using fossil free electricity and flexible energy solutions.
Neste said it plans to combat climate change and reduce emissions with three climate commitments: Reduction of greenhouse gas emissions from its own production, the emission intensity of the use of products sold by Neste, and the reduction of customers’ emissions with Neste’s renewable and circular products.
As part of these commitments, the new hydropower agreement will enable Neste to achieve its 100% renewable electricity target in Finland as early as 2022.
“Thanks to the hydropower agreement we have signed with Vattenfall, we will reach an important milestone at the beginning of 2022, as our Porvoo refinery and operations in Naantali will use 100 percent renewable electricity. We will continue to work actively to achieve carbon neutrality,” said Markku Korvenranta, executive vice president, oil products at Neste.
Vattenfall has operations in Sweden, Germany, the Netherlands, Denmark, the UK and Finland. The company produces heat and electricity from six energy sources: wind, hydro, biomass, nuclear, coal and gas. Vattenfall owns and operates more than 100 hydro plants, and hydropower accounts for about 20% of the company’s total electricity generation.
Originally published by hydroreview.com
