Press release | 2017-12-15 | 14:00 PM

Vattenfall signs major supply and energy management agreement with AkzoNobel

Vattenfall will on an annual basis supply 1.5 TWh of electricity to AkzoNobel in the Netherlands according to a new agreement. Vattenfall will also support in managing fluctuations in energy use, resulting in improved cost control and an increased share in renewable energy use for AkzoNobel.

AkzoNobel will use its own flexibility – both in chemical plants and electricity generation – to manage fluctuations in energy use and generation to prevent imbalance and optimize costs. The company will also offer demand side response to an increasing share of intermittent renewable generation. Vattenfall will in addition offer access to the energy market, through Vattenfall’s trading operations. 

“The aim of this partnership is to provide Vattenfall’s resources, with solid experience and expertise from acting on the energy market. Hence, we support AkzoNobel in creating competitive value by offering its available flexibility to the power market,” said Martijn Hagens, Vattenfall’s Senior Vice-President Customers & Solutions. “We will provide professional guidance as well as enhance the skills of staff in planning and operations.”

The partnership between Vattenfall, through its Dutch subsidiary Nuon, and AkzoNobel will support AkzoNobel take the next step in meeting its strategic and sustainability targets and reaching carbon neutrality by 2050.

“This agreement is testimony to the expertise of Vattenfall as a partner in the energy transition and is consistent with our own Planet Possible sustainability strategy for efficient resource and energy use across the entire value chain,” said Knut Schwalenberg, Chairman of AkzoNobel Netherlands. “It also underlines our commitment to using more sustainable energy resources such as wind and solar power and gives us further momentum in our industry transition towards 100% carbon neutrality by 2050.”

The set-up of the agreement is expandable to Germany, Denmark and Sweden for a portfolio-based approach to AkzoNobel’s energy procurement. Vattenfall has already been supplying EPD (Environmental Product Declaration) electricity to seven of AkzoNobel's plants in Sweden and Finland since 1 January 2017. The agreement in the Nordics has an annual volume of about 1.25 TWh.

The new agreement concerns AkzoNobel’s chemical production sites in Delfzijl, Hengelo and Rotterdam.

For further information, please contact: Vattenfall’s Press Office: Telephone: +46 8 739 5010 email: press@vattenfall.com