November 28, 2023 [Neste]- Neste has signed a purchase agreement for solar power supply to its Porvoo refinery in Finland with the renewable energy company CPC Finland Oy.
Solar power supply from the Lakari solar plant in Rauma, Finland is expected to start in spring 2024. Once ready, the plant will be the largest operating solar plant in Finland. The total annual volume of the agreement is approximately 24 GWh, which represents 75% of the annual capacity of the Lakari solar plant in Rauma.
“Neste’s agreement on solar power is a valuable addition to our existing wind power and hydropower agreements. The agreed annual volume corresponds to some 2% of the annual electricity consumption at our Porvoo refinery,” summarizes Markku Korvenranta, Executive Vice President for Oil Products business unit at Neste.
Porvoo refinery has used 100% renewable electricity since the beginning of 2022. Due to the planned development at Neste’s refinery in Porvoo, the use of electricity is expected to increase over the coming years. With the new agreement on the supply of solar power, Neste aims to ensure that its electricity will continue to be derived from renewable resources.
Neste is committed to combating climate change and reducing climate emissions both globally and locally. To support these aims, the company has set ambitious climate targets: The signed solar power agreement supports Neste’s commitment to reduce the carbon footprint of its production, helping the company work towards reaching carbon neutral production by 2035. Neste is additionally committed to reducing customers’ greenhouse gas emissions with its renewable and circular solutions by at least 20 million tons CO2eq annually by 2030 and the use phase emission intensity of sold products by 50% by 2040, as well as working with our suppliers and partners to reduce emissions across the entire value chain (scope 3).
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