Neste Oyj : increases the use of wind power at its Finnish production sites to nearly 30%

Neste Corporation, Press Release, 6 July 2020 at 10 a.m. (EET)

Neste is committed to reaching carbon neutral production by 2035. As part of this effort, the company is increasing the use of renewable electricity at its production sites in Finland and has signed a wind power agreement with Ilmatar, a wind power company. The agreement has been made together with Borealis, Neste's long-term partner in the Kilpilahti area in Porvoo, Finland.

As a result of the agreement with Ilmatar, as well as that signed with Fortum at the end of 2019, nearly 30% of the energy used at Neste's production sites in Porvoo and Naantali will be renewable wind power in 2022.

'Neste's purpose is to create a healthier planet for our children. Our two climate commitments play an important role in living up to this ambition, and one of them is to reach carbon neutral production by 2035. It is an enormous challenge and requires several concrete measures and investments. Wind power is one of the over 70 measures we have identified to reduce our production's greenhouse gas emissions,' Neste's President and CEO Peter Vanacker says.

With the ten year contract, Neste is committed to purchase about one-third of the production of Ilmatar's two wind farms. The total capacity of the agreement is more than 20 MW, and the energy produced will correspond to around 7% of the electricity consumption at Neste's sites in Porvoo and Naantali. The wind power deliveries are expected to begin in 2022.

The two wind power agreements help Neste to reduce the indirect greenhouse gas emissions (Scope 2 emissions defined by the Greenhouse Gas Protocol) of electricity purchases at its Finnish production sites annually by approximately 55 kilotons. 55 kt/a CO₂e equals annual carbon footprint of more than 8,500 EU citizens.

Neste Corporation

Susanna Sieppi
Vice President, Communications (act.)

Further information:

Neste
Please contact Neste's media service, tel. [phone] / [e-mail] (weekdays from 8.30 a.m. to 4.00 p.m. EET).

Ilmatar
Erkka Saario, CEO of Ilmatar Energy, tel. [phone], [e-mail].

Borealis
Virginia Mesicek, Senior Manager a.i., External Communications, e-mail: [e-mail], tel. [phone] (Vienna, Austria).

Neste in brief

Neste (NESTE, Nasdaq Helsinki) creates sustainable solutions for transport, business, and consumer needs. Our wide range of renewable products enable our customers to reduce climate emissions. We are the world's largest producer of renewable diesel refined from waste and residues, introducing renewable solutions also to the aviation and plastics industries. We are also a technologically advanced refiner of high-quality oil products. We want to be a reliable partner with widely valued expertise, research, and sustainable operations. In 2019, Neste's revenue stood at EUR 15.8 billion. In 2020, Neste placed 3rd on the Global 100 list of the most sustainable companies in the world. Read more:neste.com