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Telenor and Statkraft have signed a 10-year Power Purchase Agreement (PPA). As per the terms of the agreement, 80% of the purchased power for Telenor’s Finnish subsidiary DNA, will be procured from a new wind farm to be built in Finland.
Exilion Tuuli which owns the Palokangas wind farm started its operations in late 2024. A group of Finnish institutions own Exilion Tuuli which functions as an investment company. Statkraft’s role is matching the needs of DNA and Exilion, enabling financial security for the wind farm owner, and also ensuring a reliable renewable energy supply for the operations of the telecommunications company.
The Palokangas wind park in the Ostrobothnia region will supply DNA with 85 GWh of clean energy per year. The wind farm will consist of 12 turbines.
“Telenor wants to support the construction of new renewable power plants in the markets we operate, and this agreement provides a solid contribution to the decarbonization of the electricity supply, as well as new capacity to hedge against volatile energy prices,” says Jannicke Hilland, Executive Vice President for Telenor Infrastructure at Telenor Group.
“Telenor Group’s scope 1 and 2 science-based climate target commits us to reduce global greenhouse gas emissions by 57% from 2019 to 2030. We also have a scope 3 enablement target where we recently made it mandatory for our suppliers to set their own science-based targets. Purchasing renewable energy is one the most significant measures we can take to reach our scope 1 and 2 targets,” Hilland added.
“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,” said Arne Wist, Vice President Nordic Origination at Statkraft.
