Statkraft and INEOS Inovyn sign new long-term green power agreements
Christian Fernsby ▼ | February 4, 2023
Statkraft and INEOS Inovyn at Rafnes in Bamble have signed two new long-term power agreements.Article continues below
The agreements will secure the majority of the power needed for the existing manufacturing activities and also the additional power required for planned investments into electrification and hydrogen production as part of INEOS Inovyn Norway's plans to decarbonise its assets in Norway.
INEOS Inovyn, European leader of the Chlor-Vinyl industry operates a world scale integrated site in Norway producing fundamental raw materials for various industry sectors as diverse as automotive; building and construction; paints and adhesives; food; healthcare and medical; personal care; pulp and paper; textiles; and water treatment.
Long term supply of clean energy is critical for the sustainability of the activity.
The largest agreed power contract covers a capacity of 100 MW, equal to an annual volume of 876 GWh of documented renewable energy. The new long-term agreement replaces the existing power contract, which expires in May 2023.
The second long-term power agreement covers up to 30 MW, adding 263 GWh per year for the period from 2026.
The agreement is linked to INEOS Inovyn’s extensive development plan in process electrification and hydrogen production in order to further reduce carbon emission of the asset at Rafnes.
The power agreements are sourced from Statkraft’s renewable hydropower assets in Norway. ■ What to read next
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