Multinational building materials company Cemex Poland announced on Monday (13 November) that it has entered into a long-term contract with Norwegian state-owned hydropower Statkraft for the supply of green electricity, which is confirmed and secured by the purchase of a Guarantees of Origin (GOs).
The contract is based on the CPPA (Corporate Power Purchase Agreement) formula and covers energy supplies over a period of eight years starting 1 January 2025. The signed contract is expected to secure about 30 per cent of the annual energy needs of Cemex Poland’s plants. Statkraft is Europe’s largest generator of energy from renewables, including hydropower, wind power and solar power.
Energy supplied to Cemex plants will be supplied based on a portfolio of electricity from Polish wind and photovoltaic farms, under a “physical energy supply contract,” covering the actual energy generated from a specific group of Polish generating units supplying green energy.
“The concluded contract is important for Cemex on several levels. The contract ensures stable supply of a large volume of electricity, while at the same time securing a guaranteed, predictable level of prices for supplied energy in the long term. This is particularly important in the context of the rapid and unpredictable changes in energy prices on the European and Polish energy markets recorded in the last several months,” said Tadeusz Radzięciak, Director of Cement Operations and Cemex Poland Board Member. “In addition, the partnership with Statkraft is crucial in the context of achieving the Cemex Group’s sustainability goals. After all, sourcing energy from renewable sources enables a significant reduction in the carbon footprint of our production facilities.”
The contract covers energy supply in the “baseload” product of fixed amounts of energy at each hour of the day for the duration of the agreement. From the point of view of both the power generator and the end user, this is the most advanced product structure in the energy market today, Cemex Poland said in a press release.
“As a leading integrator of the renewable energy market in Poland, at Statkraft we are convinced that we can drive the energy transition while supporting the competitiveness of the Polish industry. A great example of this is our partnership with Cemex Poland, where we provide a green baseload – a constant supply 24 hours a day, 365 days a year, based on our RES [renewable energy sources] portfolio which includes electricity from both wind and solar assets,” said Pieter Schipper, Vice President of NW European & US Origination at Statkraft.
Poland is the second country in the Cemex group in Europe, after Spain, to have such a contract.
