INEOS Inovyn secures long-term green power supply deal for its Norwegian sites

INEOS, Inovyn and Statkraft have renewed their long-standing partnership in Norway by signing two new long-term power agreements to supply renewable energy for INEOS Inovyn’s Rafnes and Porsgrunn sites.
INEOS Inovyn secures long-term green power supply deal for its Norwegian sites
Courtesy of Ineos.

The first agreement effectively replaces the site’s existing power contract, which will expire in May 2023. It covers a capacity of 100 MW for an annual renewable energy production of 876 GWh each year. The second agreement will come into effect in 2026: it will cover an additional 30 MW (263 GWh per year) and will support INEOS Inovyn’s extensive development plan in process electrification and hydrogen production at Rafnes.

In Norway, INEOS Inovyn produces caustic soda, chlorine, hydrogen, vinyl chloride monomer and PVC - fundamental raw materials for sectors as diverse as automotive, building and construction, paints and adhesives, food, healthcare and medical, personal care, pulp and paper, textiles, and water treatment.

“These long term green energy supply agreements allow us to continue to competitively supply caustic soda and PVC from Norway to our customers in Europe and elsewhere in the world” said Geir Tuft, CEO of INEOS Inovyn. “They also enable us to pursue our ambitious asset development plans which we have put in place to reach our 2030 CO2 reduction targets and to continue the decarbonisation of our operations to deliver net zero emissions by 2050. Statkraft’s support is critical for us to carry out this ambition as early movers in  Norway and hence achieve our climate goals benefiting the full value chain for our customers.”   

The new agreement is the latest brick in the wall of INEOS Inovyn’s sustainability efforts for its Norwegian sites. It supports the Electra and Aquarius projects - which focus respectively on ground-breaking technology to fully electrify the production of vinyl chloride and the first INEOS Inovyn hydrogen plant based on water electrolysis – leading to an additional 40 percent reduction of the site’s carbon footprint over the coming years.

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