Borregaard ASA Signs Long-Term Power Agreement
Borregaard ASA has achieved an important milestone by signing a long-term power purchase agreement with Hafslund, a prominent Norwegian hydropower producer. This agreement will be effective from 2025 through 2034, marking a major step in securing sustainable energy for Borregaard's operations.
Overview of the Power Purchase Agreement
According to the contract, Borregaard will receive an annual power supply of 88 GWh. This figure represents about 10–15% of the total energy consumed at Borregaard's Sarpsborg facility. The importance of this contract extends beyond just the amount of energy it provides; it also reinforces Borregaard’s commitment to sustainable practices.
Benefits of Hydropower
As a renewable energy source, hydropower plays a vital role in lowering carbon emissions. By teaming up with Hafslund, Borregaard is solidifying its status as a leader in eco-friendly energy use. This agreement serves as an excellent example of how businesses can work together towards achieving sustainability and improving energy efficiency.
Commitment to Sustainable Practices
Borregaard has a longstanding commitment to fostering sustainability in its operations. This new agreement with Hafslund aligns perfectly with the company’s strategic aim to optimize its energy consumption while making a positive impact on the environment. By incorporating renewable energy into their energy mix, they are enhancing operational efficiency and decreasing dependence on fossil fuels.
Looking Ahead and Strategic Objectives
With this power agreement, Borregaard is not just securing a stable energy supply; it is also preparing for future growth. This reliable energy source will enable ongoing innovation and development within the company, particularly at their Sarpsborg site, which is crucial to Borregaard's production capabilities.
Investor Inquiries Contact Information
If you have any questions regarding this new power agreement, please reach out to Knut-Harald Bakke, the Director of Investor Relations, at +47?905 79 164. The company values transparency and is keen to respond to investor inquiries, emphasizing their dedication to stakeholder engagement.
Frequently Asked Questions
What is the duration of the new power purchase agreement?
The agreement lasts from 2025 to 2034, ensuring Borregaard has a long-term source of sustainable energy.
How much energy will Borregaard receive annually?
Through this agreement, Borregaard will receive 88 GWh of energy each year.
What percentage of Sarpsborg's energy consumption does this represent?
This supply will account for approximately 10–15% of the annual energy consumption at the Sarpsborg facility.
Who can I contact for more information regarding this agreement?
For inquiries, you can contact Knut-Harald Bakke, the Director of Investor Relations, at +47?905 79 164.
What benefits does hydropower offer to Borregaard?
Hydropower provides renewable energy that helps reduce carbon emissions, thereby supporting Borregaard's sustainability goals.