Faerch’s Power Purchase Contributes to a New Better Energy Solar Park in Finland
08-10-2024
Faerch contributes to a new solar park in Finland and expands its partnership with Better Energy through a Power Purchase Agreement.
Faerch, a leading supplier of circular food packaging with integrated recycling capability, has signed its second 10-year Power Purchase Agreement (PPA) with Better Energy.
A new solar park coming to Finland
Through the PPA, Faerch will offtake enough renewable energy annually to cover around 70% of its energy consumption in Finland. Faerch’s power purchase contributes to establishing a new solar park near Hankoniemi in southern Finland. The park will generate 38 GWh of renewable energy annually – equivalent to the energy consumption of over 2,000 Finnish households.
“Through this PPA with Better Energy, Faerch Group will have access to a consistent and renewable power supply, reducing our carbon footprint and contributing to the energy transition in Finland”, says Tom Sand-Kristensen, Group CFO at Faerch. “By securing renewable energy for our business, we’re able to make our Finnish operations more sustainable while ensuring there is more green energy in the Finnish grid and it’s another significant milestone in our Renewable Energy Strategy that seeks to power all our sites with additional renewable energy via PPAs”.
First PPA for Better Energy in Finland
Faerch is Better Energy’s first PPA partner in Finland, demonstrating its capability to deliver affordable, green energy to businesses across Northern Europe. In Finland, businesses are choosing renewable energy PPAs to secure zero-emissions electricity while reducing exposure to volatile electricity costs. The Hankoniemi project, developed entirely without subsidies, reflects the growing demand for green energy driven by the market.
““Faerch’s decision to expand our partnership and offtake renewable energy in Finland, is another example that companies see our green energy as good for business and a way to decarbonise operations,” says Mikkel Thorup, Senior Director of Power Purchase Agreements at Better Energy. “Faerch is now leading the way by using its power purchase to impact the Finnish energy transition.”
Building on an existing partnership
The PPA in Finland builds on the existing partnership between Faerch and Better Energy. In 2023, the companies announced that Faerch will offtake renewable energy from two Better Energy solar parks in Poland.
“Better Energy’s ability to provide affordable green energy in Poland made it a natural choice to extend our collaboration to Finland,” Tom Sand-Kristensen concludes.
