Statkraft and Wihuri Forge a Decade-Long Energy Partnership

Statkraft and Wihuri's Strategic Partnership

Statkraft and Wihuri have embarked on an exciting journey by signing a long-term Power Purchase Agreement (PPA) in Finland. This collaboration spans a decade, ensuring that from 2027 onwards, Wihuri will source renewable energy to power its operations.

Details of the Power Purchase Agreement

The PPA constitutes a significant milestone for both companies. Statkraft, Europe's leading producer of renewable energy, will deliver a total of 438 GWh of renewable power to Wihuri over the next ten years, commencing in January 2027. The energy supplied will be certified through guarantees of origin from Finnish renewable sources, marking a step towards a more sustainable future for the industry.

Assurance and Stability

A key feature of this agreement is its design as a long-term baseload PPA, which offers Wihuri both predictability and price stability for their energy needs. This aspect of the agreement will greatly assist Wihuri in its business planning, allowing them to focus on their core operations with fewer uncertainties regarding energy costs.

Commitment to Sustainability

Hallvard Granheim, the Executive Vice President for Markets at Statkraft, expressed his enthusiasm about this partnership: “We are proud to be the long-term renewable energy supplier of choice for Wihuri. Through this PPA, we offer our customer greater predictability with a competitive energy price. By opting for renewable energy sources, Wihuri is taking significant strides towards achieving its sustainability goals.”

Wihuri's Sustainability Targets

Wihuri’s commitment to sustainability is evident in its targeted approach, where increasing the utilization of renewable energy is a vital part of their strategy. Securing this energy supply in Finland will play a pivotal role in reaching their environmental targets, particularly within the packaging division.

The Role of Wihuri Group

Wihuri Group is a prominent conglomerate with a strong Finnish background. The organization is composed of four primary business divisions: packaging, daily goods wholesale, technical trade, and aviation. With an impressive revenue of EUR 2.3 billion and over 5,600 employees across 30 countries, Wihuri is agile and adaptable in a fast-changing global marketplace.

Statkraft’s Operations in Finland

Statkraft has established a solid presence in the Finnish energy market, having operated there for over 15 years. An official branch was opened in Espoo in March 2022. As one of the leading providers of PPAs, Statkraft connects electricity producers with various trade and industrial companies throughout Europe. Their innovative approach allows them to cater specifically to the needs of their clientele.

Empowering Client Projects

In Finland, Statkraft offers PPAs not only to industrial and commercial enterprises but also to project developers and investors, facilitating the financing of new renewable energy installations. Clients benefit from competitive pricing while Statkraft mitigates market-related risks, creating a mutually beneficial scenario.

The Broader Impact on Renewable Energy

Statkraft stands tall as a global leader in hydropower and as Europe’s most significant generator of renewable energy. The group engages in a diverse range of energy production, including hydropower, wind energy, solar energy, gas-fired generation, and district heating supply. With a dedicated staff of over 6,000 across more than 20 countries, Statkraft is committed to leading the energy transition.

Understanding Guarantees of Origin

A Guarantee of Origin (GO) plays a crucial role in verifying the source of renewable energy. It certifies that every MWh of energy produced comes from renewable sources, ensuring traceability and authenticity. These certificates are maintained in electronic registries and ensure the rightful ownership of the electricity supplied.

Frequently Asked Questions

What is the significance of the Statkraft and Wihuri agreement?

This long-term PPA allows Wihuri to sustainably manage its energy needs while ensuring predictability and stability in pricing.

How will the PPA impact Wihuri’s sustainability goals?

By securing access to renewable energy, Wihuri is poised to significantly contribute to its sustainability targets, particularly within the packaging sector.

What types of renewable energy does Statkraft produce?

Statkraft generates hydropower, wind power, solar power, and also provides district heating, making it a comprehensive renewable energy supplier.

How does a PPA work?

A Power Purchase Agreement outlines the terms of electricity supply between a producer and a consumer, ensuring fixed pricing and stability over the agreed period.

What is a Guarantee of Origin?

A Guarantee of Origin is a certification that verifies the renewable nature of energy produced, ensuring that it is sourced from sustainable processes.

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