Danish food packaging company Faerch Group has entered into a power purchase agreement (PPA) to procure green power from a newly planned solar farm in Finland.
This initiative aims to cover approximately 70% of Faerch's annual electricity consumption in the country. The agreement, announced by Danish renewable energy company Better Energy, spans a duration of 10 years and will support the construction of a photovoltaic (PV) farm near Hanko, southern Finland.
The Hanko solar project is expected to generate around 38 GWh of electricity annually and will be situated on the site of a former parking lot. Scheduled for grid connection in 2026, the project will be developed without the use of state subsidies.
Tom Sand-Kristensen, Group CFO at Faerch, expressed the significance of the PPA, stating, “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.”
Faerch Group's partnership with Better Energy marks its first PPA in Finland. However, the two companies already collaborate in Poland, where Faerch is sourcing electricity from Better Energy's 28-MW Krapkowice solar farm, which was commissioned in February.
This new agreement aligns with Faerch's commitment to powering all its locations with renewable energy, enhancing the sustainability of its operations.
