Statkraft and Wihuri have signed a 10-year Power Purchase Agreement (PPA) in Finland. The agreement ensures that from 2027 on, the industrial company purchases renewable energy from Finnish sources for their operations.
(Helsinki, 18 September 2024) - Statkraft, Europe's largest producer of renewable energy, will provide Wihuri, the Finnish global industry and trade conglomerate, with a total of 438 GWh renewable energy over ten years, starting in January 2027. The energy is certified using guarantees of origin from Finnish renewables*. The delivery is structured as a long-term baseload PPA, which provides Wihuri with both predictability and price stability in their business planning.
"We are proud to be the long-term renewable energy supplier of choice for Wihuri. Through this PPA, we are providing our customer with greater predictability through a fixed, competitive energy price. By sourcing renewable energy, Wihuri can make steps towards meeting their sustainability goals," said Hallvard Granheim, Executive Vice President for Markets at Statkraft. "We are also pleased to add a new customer to our diverse network of Finnish industrial companies, which includes telecommunications, chemicals, and pulp and paper, among others. We tailor our PPAs exactly to our customers' needs, and with each new customer we can develop more innovative solutions."
"We are pleased to secure access to renewable energy for our domestic operations including Wihuri's largest production facility in Europe. We look forward to cooperating with Statkraft for our long-term energy needs." said Risto Aarnio-Wihuri, CEO of Wihuri Group.
Wihuri's sustainability strategy
Wihuri has set business area specific targets of which increasing the use of renewable energy is one. Securing access to renewable energy in Finland supports achieving the goal, especially in the packaging business.
About Wihuri
Wihuri Group is an international conglomerate with strong Finnish roots. Wihuri Group consists of four business divisions: packaging, daily goods wholesale, technical trade, and aviation. In 2023 Wihuri Group generated a revenue of 2.3 billion EUR. They employ over 5,600 professionals in 30 different countries.
About Statkraft in Finland
Statkraft has been active in the Finnish market for more than 15 years, opening an official branch in Espoo in March 2022. As a leading PPA provider, Statkraft brings together electricity producers and companies from trade and industry across Europe and develops new innovative concepts.
In Finland, Statkraft offers PPAs to industrial and commercial companies as well as to project developers and investors enabling the financing of new renewable power plants. Statkraft enables customers to achieve their procurement targets with competitive pricing and takes on market and portfolio-related risks for them.
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has more than 6,000 employees in over 20 countries.
*A Guarantee of Origin (GO) is a certificate that verifies that one MWh of energy has been produced from renewable sources. It provides a trackable system to ensure unique ownership. The certificates are managed in an electronic registry as proof of the source of delivered electricity and cancelled once used.
Media contact Statkraft
Maike Hohlbaum, Senior Country Communications Advisor, maike.hohlbaum@statkraft.com
Media contact Wihuri Group
Ilona Toivonen, Communication Manager, ilona.toivonen@wihuri.com
