Gasum has agreed to deliver Umicore wind-power generated electricity through a power purchase agreement. The 10-year contract, commencing in 2025, includes 45 GWh annually of electricity to Umicore’s site in Kokkola, Finland.
Gasum has signed a power purchase agreement or PPA with Umicore to supply them with renewable electricity. The electricity will be delivered to Umicore’s site in Kokkola, Finland. The 10-year contract of wind generated energy starts in 2025 and includes 45 GWh annually.
Umicore, a Belgian company with over 200 years of history, is a global leader in clean mobility materials and recycling. Its Kokkola site produces precursor cathode active materials and refines cobalt used in rechargeable batteries for electric cars.
“The accelerated energy transition towards clean mobility that we are enabling at Umicore, goes beyond the rechargeable battery materials we produce and recycle. As we are taking our company to the next growth level it’s also about the choices we make in the way we produce – and still reach our objective of carbon neutrality in 2035,” said Mathias Miedreich, CEO of Umicore. “Clean energy agreements like the one we signed with Gasum, allow Europe’s largest cobalt refinery and state-of-the-art cathode precursor facility to produce sustainably. Moreover, they reduce Umicore’s scope 2 emissions as we use electricity as the main source of energy throughout our battery materials value chain, and they significantly contribute to securing our own energy supplies, at a cost competitive level, for the next decade.” said Mathias Miedreich, CEO of Umicore.
Umicore aims to reach net-zero greenhouse gas emissions by 2035 for its scope 1 emissions, which stem from its on-site operations, and for its scope 2 emissions, which relate to energy purchases.
The agreement continues a longstanding partnership
The PPA supports both Gasum’s and Umicore’s purpose of building a better and cleaner tomorrow in their respective fields. The agreement also extends their prior cooperation as Umicore has been purchasing portfolio management services from Gasum’s Energy Market Services.
“We are proud that Umicore has chosen to partner with us in regards of renewable energy. This is a demonstration of their trust we have earned during our long-term partnership. The PPA enables increasing the production of green energy in Finland and benefiting not only Gasum and Umicore but also the whole environment,” says Tommy Mattila, VP Industry of Gasum.
The wind farm is currently under construction and will be commissioned by late 2023 or early 2024.
Gasum is already a major actor in the wind power segment and the PPA increases its market share further. Besides wind power, Gasum’s energy portfolio includes hydroelectricity, solar power, and bioenergy. The company also offers biogas and natural gas for industry, maritime shipping, and road transport.
Additionally, Gasum’s Energy Market Services include electricity market portfolio management and market reporting services, guarantees of origin for electricity, expert services for emissions trading, and 24/7 control room services for electricity balance risk management.
