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Finland: Veolia, Neste and Borealis co-construct a heat and power generation plant in Porvoo

Veolia will create a joint venture with Neste and Borealis to build a new combined heat and power production unit, which in particular will provide steam to the Neste refinery and the Borealis petrochemical plant in Porvoo Finland.

Between now and 2018, the joint venture[1] will build four new steam and power generation units with an installed capacity of 450 megawatt thermal and 30 megawatt electrical. These plants will be designed to meet the latest environmental regulations including the European Commission’s Industrial Emissions Directive (IED)[2].

We have combined forces to build this modern power plant, and from 2018 onwards its customers will have a more secure, efficient and clearly cleaner power source,” says Matti Lehmus, EVP Oil Products at Neste Corporation.

"This joint venture will deliver safe and reliable energy supplies, and support the sustainable development of our Porvoo location,” says Thomas van de Velde, Borealis Vice President Hydrocarbons & Energy. "This joint venture will secure our long-term reliable energy supply for our operations in Porvoo on a competitive basis."

"The cooperation with Neste and Borealis constitutes an important milestone for Veolia in the Finnish and Nordic energy services markets and demonstrates the attractiveness of our 
business model and technical and operational know-how
”, says Veolia’s CEO for the Nordic 
countries, Mikael Jansson. “Neste and Borealis are leading companies within their respective 
industries and we are proud that they have entrusted us as their partner for the energy management for their operations in Porvoo.


More :

> Neste, Finland's national oil company
> Borealis, provider of chemicals
> Veolia's expertise for industry

Date of publication: 16 December 2015

[1]The new joint venture, named Kilpilahti Power Plant (KPP, is jointly owned by Neste (40%), Veolia (40%) and Borealis (20%) [2]This directive regulates polluting industries in the European Union (EU) and sets out an integrated approach to the prevention and reduction of pollution emitted by industrial and agricultural installations: