Statkraft and Wihuri's Strategic Partnership
Statkraft and Wihuri have kicked off an exciting collaboration by signing a long-term Power Purchase Agreement (PPA) in Finland. This partnership will last for ten years, ensuring that starting in 2027, Wihuri will use renewable energy to power its operations.
Details of the Power Purchase Agreement
This PPA marks an important milestone for both companies. Statkraft, the leading producer of renewable energy in Europe, will provide Wihuri with a total of 438 GWh of renewable power over the next decade, beginning in January 2027. The energy supplied will come from Finnish renewable sources and will be certified with guarantees of origin, promoting a more sustainable future for the industry.
Assurance and Stability
A major advantage of this agreement is that it's structured as a long-term baseload PPA, giving Wihuri predictability and price stability for their energy requirements. This element of the contract will greatly aid Wihuri in their business planning, enabling them to concentrate on core operations without the stress of fluctuating energy costs.
Commitment to Sustainability
Hallvard Granheim, Executive Vice President for Markets at Statkraft, shared his excitement about this collaboration: “We are proud to be Wihuri's long-term renewable energy supplier of choice. This PPA provides our customer with enhanced predictability, along with a competitive energy price. By choosing renewable energy sources, Wihuri is taking significant steps toward achieving its sustainability targets.”
Wihuri's Sustainability Targets
Wihuri demonstrates a strong commitment to sustainability with a targeted approach focused on increasing renewable energy use, which is a crucial part of their strategy. Securing this energy supply in Finland will be key to meeting their environmental goals, especially in the packaging division.
The Role of Wihuri Group
Wihuri Group is a major player in Finland, comprising four main business divisions: packaging, wholesale daily goods, technical trade, and aviation. With an impressive revenue of EUR 2.3 billion and over 5,600 employees in 30 countries, Wihuri is responsive and adaptable in an ever-changing global market.
Statkraft’s Operations in Finland
Statkraft has built a solid foundation in the Finnish energy sector, having been active there for over 15 years. They opened a branch in Espoo in March 2022. As a leading provider of PPAs, Statkraft connects electricity producers with various industrial and trade companies across Europe. Their innovative strategies allow them to meet the specific needs of their clients.
Empowering Client Projects
In Finland, Statkraft provides PPAs not just to industrial and commercial businesses, but also to project developers and investors, helping them finance new renewable energy projects. Clients enjoy competitive pricing while Statkraft takes on market-related risks, creating a win-win situation.
The Broader Impact on Renewable Energy
Statkraft is recognized as a global leader in hydropower and as Europe’s largest generator of renewable energy. The company is involved in various forms of energy production, including hydropower, wind power, solar power, gas-fired generation, and district heating supply. With a dedicated workforce of over 6,000 spread across more than 20 countries, Statkraft is committed to leading the energy transition.
Understanding Guarantees of Origin
A Guarantee of Origin (GO) is essential for validating the source of renewable energy. It confirms that every MWh of energy generated comes from renewable sources, ensuring traceability and authenticity. These certificates are stored in electronic registries, guaranteeing 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 both predictability and stability in pricing.
How will the PPA impact Wihuri’s sustainability goals?
With access to renewable energy secured, Wihuri can significantly advance its sustainability targets, particularly in the packaging division.
What types of renewable energy does Statkraft produce?
Statkraft generates hydropower, wind power, solar energy, and also provides district heating, making them a comprehensive renewable energy supplier.
How does a PPA work?
A Power Purchase Agreement lays out the conditions for electricity supply between a producer and a consumer, ensuring fixed pricing and stability throughout the agreed period.
What is a Guarantee of Origin?
A Guarantee of Origin is a certificate that verifies the renewable nature of produced energy, ensuring it comes from sustainable sources.