Vattenfall to deliver 1.5 TWh of power to AkzoNobel
Sweden's Vattenfall will supply 1.5 TWh of electricity to Dutch paint and speciality chemicals firm, AkzoNobel, to help it meet its 2050 carbon target. The Swedish state-owned utility will supply power for AkzoNobel's chemical production sites in Delfzijl, Hengelo and Rotterdam. It will also manage energy use fluctuations for better cost control and provide AkzoNobel with access to the power market through its trading operations. Vattenfall has provided power to the Dutch company's facilities in Sweden and Finland since the start of 2017.
Swedish state-owned utility Vattenfall AB has signed a power supply deal with Akzo Nobel NV (AMS:AKZA) that will help the Dutch paints and speciality chemicals company meet its 2050 goal for carbon neutrality.

The contract calls for Vattenfall to supply 1.5 TWh of electricity for AkzoNobel’s chemical production facilities in Delfzijl, Hengelo and Rotterdam, the Netherlands, Vattenfall said on Friday. In addition, the Swedish utility will manage fluctuations in energy use that will lead to improved cost control and increased use of renewables for its Dutch client and provide the latter with access to the energy market through its trading operations.

“This agreement is testimony to the expertise of Vattenfall as a partner in the energy transition and is consistent with our own Planet Possible sustainability strategy for efficient resource and energy use across the entire value chain,” said Knut Schwalenberg, chairman of AkzoNobel Netherlands.

Vattenfall noted that the deal can be expanded to Germany, Denmark and Sweden. Since the start of 2017, the utility has been supplying power to seven of the Dutch company’s factories in Sweden and Finland. The annual power volume under the deal is 1.25 TWh.

Choose your newsletter by Renewables Now. Join for free!