Sustainability Blog

Neste Ups Renewable Energy at Porvoo

By Simon Johns - Sep 13, 2021

More electricity consumed by Finnish refiner Neste‘s Porvoo facility will be supplied by renewable sources, as part of an ongoing effort by the company to slash greenhouse gas emissions and become carbon neutral over the next 14 years.

Statkraft, Europe’s largest renewable energy producer, signed a 10-year deal with Neste, Finland’s largest company, to supply the refinery with about 215 gigawatt hours per year of wind-generated electricity starting in 2022. Neste aims to power all of its operations with renewables by 2030.

The agreement with Statkraft equates to 18% of the refinery’s yearly electricity consumption. Neste already has agreements with Ilmatar Energy and state owned power utility Fortum, which currently supply about 20%.

The electricity supplied by Statkraft will bring down the refinery’s Scope 2 emissions by 53,000 metric tons per year, totalling reduction of some 170,000 t/y when the other two power supply agreements are included.

Neste, which is ranked fourth on the Corporate Knight Global 100 Most Sustainable Companies list, also wants to reduce its customers’ greenhouse gas emissions by at least 20 million t/y of carbon dioxide equivalent also by 2030 and for its own production to be carbon neutral by 2035.

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