Small Hydro – Neste’s target of 100% renewable electricity use will be met sooner than expected in Finland

Neste is committed to fighting climate change and reducing climate emissions both globally and locally. To support this, the company has three climate commitments, which cover the reduction of greenhouse gas emissions from its own production *, the intensity of emissions from the use of products sold by Neste ** and the reduction of customer emissions with Neste’s renewable and circular solutions .

As part of these climate commitments, Neste aims for a worldwide use of 100% renewable electricity by 2023. In order to achieve the target and in addition to the new hydropower agreement, Neste has increased the use of renewable electricity in its Porvoo refinery in Finland with wind turbine and has agreed to deliveries of wind power with its partners Statkraft, Ilmatar and Fortum.

Thanks to the new hydropower agreement, Neste will meet its renewable electricity target in Finland as early as 2022. The transition to renewable electricity has also progressed at other Neste production sites according to plan. For example, around 75% of the electricity used in the Rotterdam refinery in 2021 is certified renewable electricity with guarantees of origin.

“Our goal is to make the Porvoo refinery the most sustainable refinery in Europe by 2030 and achieve carbon neutral production by 2035. We will achieve these ambitious goals by reducing greenhouse gas emissions greenhouse from production and using renewable electricity, for example. Thanks to the hydroelectric agreement we signed, we will reach an important milestone in early 2022 as our Porvoo refinery and operations in Naantali will use 100% renewable electricity. We will continue to actively work to achieve carbon neutrality, ”said Markku Korvenranta, Executive Vice President, Petroleum Products at Neste.

The total annual volume of the hydroelectric agreement with Vattenfall is 800 GWh of renewable electricity purchased with guarantees of origin, which corresponds to approximately 67% of the electricity consumption at the Neste sites in Porvoo and Naantali. The transition to fully renewable electricity will reduce Neste’s indirect greenhouse gas emissions *** to zero when purchasing electricity for its Porvoo and Naantali sites.

*) Scope 1 and Scope 2 emissions defined by the Greenhouse Gas Protocol, which include emissions linked to our own production.
**) Scope 3 emissions defined by the Greenhouse Gas Protocol, which include all other significant emissions throughout our value chain. The most important Scope 3 categories for Neste are the use of products sold, goods and services purchased and the transport of raw materials and products. The emission intensity of products sold is calculated by dividing the emissions resulting from the use of products sold by Neste by the total amount of energy sold (gCO2e / MJ).
***) Scope 2 emissions defined by the Greenhouse Gas Protocol.

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