NVZMY Novenesis AS (PK)

   By Dominic Chopping 
 

STOCKHOLM--Swedish state-owned utility group Vattenfall AB said Friday that it has signed a new long-term deal with Novo Nordisk A/S (NVO) and Novozymes A/S (NZYM-B.KO) to supply the Danish firms with renewable energy from the Kriegers Flak offshore wind farm in the Baltic Sea.

Insulin-maker Novo Nordisk has a target to run all of its production facilities worldwide on renewable power by 2020. With the Vattenfall agreement all of Novo Nordisk's European production will run on renewable energy.

Enzyme-producer Novozymes has run all of its Danish production using renewables for several years, the company said.

Friday's deal will cover approximately a fifth of the wind farm's production capacity. Kriegers Flak is scheduled to be in full operation by the end of 2021, with the deal coming into force from Jan. 1, 2020. Between then and 2021 the power will be sourced from other Vattenfall wind farms in Denmark.

Write to Dominic Chopping at dominic.chopping@wsj.com; @domchopping, @WSJNordics

(END) Dow Jones Newswires

July 13, 2018 03:20 ET (07:20 GMT)

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