Telenor signs PPA with renewable energy provider Statkraft – EQ Mag

Telenor, a telecommunications company, has entered into a 10-year Power Purchase Agreement (PPA) with Statkraft, a renewable energy provider.

landmark agreement ensures that approximately 80 percent of the power purchased by Telenor’s Finnish subsidiary, DNA, will come from a forthcoming wind power farm in Finland.

The wind energy farm, named Palokangas, is owned by Exilion Tuuli, an investment company backed by Finnish institutions, and is scheduled to commence operations in late 2024.

Jannicke Hilland, the Executive Vice President for Telenor Infrastructure at Telenor Group, expressed the company’s commitment to supporting the development of new renewable power plants in their operational markets.

Telenor has previously signed similar agreements for its Norwegian and Danish operations as part of its proactive approach to emissions reduction. The company aims to reduce global greenhouse gas emissions by 57 percent from 2019 to 2030, aligning with science-based climate targets for scope 1 and 2 emissions.

Furthermore, Telenor has introduced a scope 3 enablement target, making it mandatory for suppliers to establish their own science-based targets. Purchasing renewable energy stands out as one of the most impactful measures Telenor can take to achieve their scope 1 and 2 goals.

Under the PPA, DNA will receive an annual supply of 85 GWh (gigawatt-hours) of renewable energy from the Palokangas wind park. The wind farm will consist of 12 turbines and will be located in the Ostrobothnia region of Finland.

Arne Wist, Vice President Nordic Origination at Statkraft, highlighted the significance of this agreement in supporting DNA’s energy requirements and helping them achieve their climate targets through renewable energy.

Source: PTI