Inovyn Secures “Green” Power for Norway

06.02.2023 - Inovyn, PVC-producing subsidiary of Ineos, has inked two long-term power supply deals with Norway’s Statkraft, which claims to be Europe’s largest renewables producer. From May, Inovyn will draw 100 MW of exclusively renewable energy from Statkraft for an annual renewable energy production of 876 GWh per year and an additional 30 MW (263 GWh) from 2026.

Ineos has been drawing power from Statkraft in Norway for a number of years, and Inovyn said the new base agreement in effect replaces the existing contract for the sites, which expires in May.

Building on this long-term relationship secures “competitive green power for our chlor-alkali and PVC production at Rafnes and Porsgrun,” Inovyn CEO Geir Tuft said.

The first phase of the new pact with Statkraft is linked to the Ineos subsidiary’s extensive development plan in process electrification and hydrogen production, aimed at further reducing carbon emissions from its operations.

Tuft said the plans constitute “a major milestone” in the company’s continued efforts to keep its Norwegian assets competitive and reduce its carbon footprint in the Scandinavian country as well as taking it one step closer to reaching its 2030 CO2 reduction targets and complete decarbonization of operations by 2050.

In Norway, Inovyn produces caustic soda, chlorine, hydrogen, vinyl chloride monomer (VCM) and PVC.

Tuft called the newest deal with Statkraft “the latest brick in the wall” of the vinyls producer’s sustainability efforts for the Scandinavian country, which is focused on fully electrifying the production of VCM, and includes the first Inovyn hydrogen plant based on water electrolysis. This is expected to lead to an additional 40% reduction of the sites’ carbon footprint in coming years.

With 5,000 employees in 20 countries, Statkraft produces hydropower, wind power, solar power and gas-fired power as well as supplying district heating.

Inovyn regards itself as Europe’s largest producer of vinyls and among the top three worldwide with an annual turnover of €4.5 billion and an annual commercial production volume of roughly 10 million tonnes The Ineos hydrogen business is steered by Inovyn.

Author: Dede Williams, Freelance Journalist