Interim report 1 Jan. -30 September 2024: A turn for the better in building and technical trade
K Group increases the use of Finnish wind power substantially – share of K Group’s electricity purchases to rise to 20%
K Group is increasing its purchases of Finnish wind power. K Group has signed an agreement to purchase annually some 50 GWh of electricity generated in a wind farm to be built in Northern Ostrobothnia, starting in 2023.
K Group only purchases electricity produced with renewable energy. As of 2023, some 20% of the electricity purchased will be generated using Finnish wind power.
“Finland’s self-sufficiency in electricity production has been a hot topic, and rightly so.
K Group wants to promote the increased production of renewable electricity and electricity self-sufficiency in Finland. By increasing our purchases of Finnish wind power, we contribute to the overall reduction of emissions from electricity production in Finland,” says Antti Kokkonen, Engineering Manager at K Group.
K Group is aiming to reach carbon neutrality, and is constantly looking for new ways to cut emissions. Since 2017, all electricity purchased by the K Group company Ankkuri-Energia for stores and other Kesko properties in Finland has been produced with renewable energy, either hydropower or bioenergy.
In recent years, K Group has also invested in solar power, and has 42 solar power plants, making it one of the biggest producers and users of solar power in Finland. Going forward, K Group wants to increase the share of Finnish wind power, as that provides electricity throughout the year.
According to the new agreement, K Group’s long-standing partner Gasum will begin providing K Group with renewable electricity produced in a new wind farm in Northern Ostrobothnia from 2023 onwards. The annual purchase of some 50 GWh equals the annual electricity consumption of Kesko’s building and technical trade and car trade divisions.
In 2020, Kesko announced it had made a long-term purchase agreement with the German wind power company wpd, committing to purchasing clearly over 40 GWh of wind power annually for 15 years from 2023 onwards, generated on a new wind farm to be built in Finland. Combined, the electricity to be purchased from wpd and Gasum will total over 90 GWh annually.
Annual wind power production in Finland is estimated to increase from the current 8 TWh to over 16 TWh by 2024 (source: Finnish Wind Power Association).
Towards carbon neutrality in K Group
K Group aims to become carbon neutral by 2025. We will systematically reduce emissions to reach zero emissions from our own operations and transports by 2030. We will cut emissions by e.g. increasing the use of renewable energy and improving energy efficiency.
K Group is also encouraging its suppliers, the whole supply chain, and customers to reduce emissions. K Group’s objective is to have reduction targets set for two-thirds of its direct supplier emissions by 2025.
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