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New Borealis JV delivers safe and reliable energy supplies in Porvoo  

By Gerald Ondrey |

Borealis AG (Vienna, Austria; www.borealisgroup.com) plans to partner with Neste Oil and Veolia in a joint venture (JV) to modernize and operate the power plant in the Kilpilahti petrochemical cluster in Porvoo, Finland. Designed to meet demanding European emissions requirements, the power plant will supply Borealis’ integrated petrochemical complex in Porvoo with safe, reliable and sustainable energy. Much of the existing power generation infrastructure dates back to 1971, and is nearing the end of its operating life. The JV, co-owned by Neste Oil (40%), Veolia (40%) and Borealis (20%), will implement a modernization program between 2015 and 2017, with planning already underway. The result will be new generating facilities comprising three new steam boilers, which will comply with the latest environmental regulations, including the European Commission’s Industrial Emissions Directive. Neste Oil plans to transfer its existing power plants at the Porvoo site into the JV in spring 2015. Borealis and Neste Oil will source energy for their respective activities in the integrated petrochemical complex from the joint venture on a contractual basis and Veolia will take responsibility for the operations. “The modernization…
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