Jervois Global Limited announces that it has secured long-term, renewable energy access at its Finland facilities due to two separate, 10-year contracts agreed upon by Umicore for its adjacent business with Statkraft AS and Gasum Oy.
In a statement, Jervois said under the terms of a Master Services Agreement (MSA), Umicore is tasked with providing Jervois with a variety of utility and other services within the Kokkola Industrial Park
According to Jervois, this renewable energy will account for almost two-thirds (or 17.5 GWh) of total annual power usage at Jervois’ Finland activities (prior to prospective expansions) and will begin in 2024 (Statkraft) and 2025 (Gasum), respectively. Contracts for using renewable energy generated by onshore wind are expected to cut Jervois Finland’s CO2eq emissions by up to 30 per cent.
These contracts not only reduce Jervois’ carbon footprint but also stabilise the Company’s purchased power costs, decreasing vulnerability to current and future volatility in European energy markets for the joint benefit of the Company and its customers.
Statkraft will produce renewable energy from the Nuolivaara wind farm in northern Finland every year until 2033. The non-subsidized wind farm will include 17 wind turbines with a total installed capacity of 96.9 MW and will be operational in 2024.
Statkfraft is a Norwegian state-owned company that, as a leading power purchase agreement (“PPA”) provider, brings together energy producers and companies from trade and industry around Europe and develops new innovative concepts. Statkraft in Finland provides PPAs to industrial and commercial organisations, as well as project developers and investors, to enable the financing of new renewable power plants. Statkraft trades energy and renewable energy certificates in Finland as one of the most prominent players in the European energy market.
Meanwhile, Gasum will supply renewable power annually until 2034 from a nonsubsidised wind farm projected to be operational by the end of 2023 or early 2024.
Gasum is a Finnish state-owned utility already a prominent player in the wind power sector; its PPA with Umicore expands its market dominance even further. Gasum’s energy portfolio also includes hydroelectricity, solar power, and bioenergy. Biogas and natural gas are also available from the corporation for use in industrial, maritime cargo, and road transportation.
