The deal will see Telenor’s Finnish subsidiary DNA supplied with 85 GWh/year of renewable energy from Statkraft’s new wind farm
This week, Telenor has struck a new 10-year onshore wind power purchase agreement (PPA) with Europe’s largest renewable energy generator Statkraft.
The deal will provide Telenor’s Finnish subsidiary DNA with 85 GWh/year of renewable energy, provisioning roughly 80% of the company’s annual energy consumption.
The power will be provided by Statkraft’s new wind farm, Palokangas, which is currently under development in Finland’s westernmost region, Ostrobothnia. The site will feature 12 wind turbines, which parent company Exilion Tuuli suggesting will be ready for service at the end of 2024.
“Telenor wants to support the construction of new renewable power plants in the markets we operate, and this agreement provides a solid contribution to the decarbonization of the electricity supply, as well as new capacity to hedge against volatile energy prices,” says Jannicke Hilland, Executive Vice President for Telenor Infrastructure at Telenor Group.
The financial details of the deal were not revealed.
Telenor says this deal marks another significant step in its goal towards reducing its Scope 1 and 2 carbon emissions by 57% between 2019 and 2030.
The Group aims for its Nordic businesses to be entirely carbon neutral by 2030, while its Asian businesses have slightly less ambitious targets, aiming simply for a 50% reduction in emissions in 2030 from a 2019 baseline.
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