Telenor Group: Telenor signs PPA for wind energy Finland

Telenor has announced the signing of a 10-year Power Purchase Agreement (PPA) with Statkraft for wind energy in Finland. Through the deal, the company will procure the output of the energy firm's Palokangas wind farm.

According to the company, the agreement will cover 80 percent of Telenor's Finnish subsidiary DNA, procuring around 85GWh annually.

The wind farm consists of 12 turbines in the Ostrobothnia region and is due to start operations in late 2024. The farm is also owned by Finnish investment firm Exilion Tuuli. 

Commenting on this Jannicke Hilland, EVP for Telenor infrastructure at Telenor Group said that the company wants to support the construction of new renewable power plants in the markets it operate in, and the agreement provides a "solid contribution" to the decarbonization of the electricity supply, as well as new capacity to hedge against volatile energy prices. s

Arne Wist, VP Nordic origination at Statkraft, said:"With this agreement, we support DNA in securing their energy needs as well as achieving their climate targets based on renewable energy from a new wind farm under development in Finland. It illustrates Statkraft's role in the market where we match the needs of power producers and consumers to find profitable, risk-reducing, and sustainable solutions."

Meanwhile, Jaakko Happo, DNA's director of finance and administration, added: "Our industry offers a lot of good services to help curb climate change, but at the same time electricity is an essential part of the production of services. The development of technology has already reduced the relative electricity consumption of data transfer, i.e. electricity consumption per transferred kilobyte, but as digitization progresses, more and more electricity is still needed. Clean energy is therefore a very important part our climate work."