Press release
Quantrex signs 1.2 GW power purchase agreement
Sofia Hartmann
Chief Sustainability Officer
Quantrex has signed a fifteen year power purchase agreement to supply 1.2 GW of dedicated renewable energy to one of Europe's largest manufacturing groups. The agreement is the largest corporate renewable energy contract ever signed in Scandinavia and will cover the full electricity consumption of forty two manufacturing facilities across seven countries.
Quantrex today announced the signing of a fifteen year power purchase agreement with Nordekon Group one of Europe's largest diversified manufacturing companies. The agreement covers the supply of 1.2 GW of dedicated renewable electricity to forty two Nordekon manufacturing facilities across Germany France the Netherlands Belgium Denmark Sweden and Poland.
Under agreement
Under the terms of the agreement Quantrex will supply Nordekon with renewable electricity sourced from a dedicated portfolio of wind and solar assets matched on an hourly basis to the consumption profile of the forty two facilities. The supply begins on 1 January 2027 and runs for fifteen years with options to extend for a further five years. The price is fixed for the full term of the agreement providing Nordekon with complete certainty on its electricity costs for the duration of the contract.
Zero carbon emissions
Nordekon Group has committed to achieving net zero carbon emissions across its manufacturing operations by 2035. The Quantrex power purchase agreement covers what the company estimates is 78% of its total electricity consumption across the seven countries. The remaining 22% will be covered by a combination of on site generation and additional renewable procurement agreements that Nordekon expects to finalise by the end of 2026.
Long term partnership
James Okonkwo Chief Commercial Officer at Quantrex said the agreement represents exactly the kind of long term partnership that the corporate renewable energy market is demanding. Large industrial companies need certainty. They need a counterparty with the scale to deliver gigawatt level supply across multiple countries and the financial strength to honour a fifteen year commitment. That is what Quantrex offers and the Nordekon agreement is the clearest demonstration yet of what that means in practice.
Decarbonization strategy
Henrik Bauer Chief Executive of Nordekon Group said the agreement is central to the company's decarbonization strategy. Renewable energy at this scale and this price certainty changes the economics of our manufacturing operations. We are not just reducing our carbon footprint. We are building a competitive advantage in markets where customers and regulators increasingly reward low carbon production. Quantrex has the portfolio and the operational track record to deliver what we need.
The agreement is subject to standard regulatory approvals and is expected to become unconditional before the end of the second quarter of 2026.
