Dutch companies sign 10-year deal to buy 330 GWh of power from Finland

AMSTERDAM, Jan 25 (Reuters) - A consortium of four Dutch companies, including Heineken and Philips, said on Monday they have signed a 10-year contract to purchase 330 gigawatt-hours (GWh) of power annually from a wind farm being built in Finland.

The four companies, which also include chemicals maker Nouryon and lighting maker Signify, said the energy would come from the construction of 35 turbines in the Mutkalampi municipality of Finland, due to be completed by 2023.

The virtual contract covers an expected output volume of 330 GWh per year – equivalent to the electricity consumption of 40,000 households.

Compared with the average European electricity generation, this renewable electricity will help avoid more than 230,000 tons of carbon emissions every year, the companies said.

The power will be delivered to the Finnish grid and the companies will use it at industrial plants across Europe. The farm is being built by Neoen, an independent French producer of renewable energy. (Reporting by Toby Sterling, Editing by Sherry Jacob-Phillips)