VEO & Neste’s ongoing contract for the distribution of electricity

Neste has been one of VEO’s key customers in Finland ever since 2011, when an annual contract was put in place. The first deal was made in 2004, and since then, VEO has supplied the Finnish oil refinery company with a large amount of switchgears and control centers for the distribution of electricity. Today, VEO takes care of the distribution of electricity at Neste’s refineries on an annual basis.

Neste is one of VEO’s key customers in the Finnish market. Ever since the first deal was made in 2004, VEO has provided Neste with an exceptional amount of switchgears and control centers for the distribution of electricity: VEDA low voltage switchgears, VEBA bus ducts, and VECOS control panels, to name a few. In addition to this, in line with the scope of the project, training, installation and commissioning have been included in the projects, too.

Porvoo refinery at night.
Throughout the years, cooperation has been smooth and both parties have been satisfied.

Starting from Neste’s most extensive electrification line at their Porvoo refinery, VEO has, over the years, provided similar systems also to Naantali. Another major deal was made in 2009, when Neste set up two new NExBTL* refineries for renewable diesel in Rotterdam and Singapore, a deal worth over 10 million for VEO. Considering the scope of the deal, the investment was massive for both Neste and VEO, who managed to deliver the project according to both customer demands and schedule.

Regarding the cooperation between VEO and Neste, a new era began in 2011 when an annual contract was made between the two parties. In order to streamline the purchasing process, delivery methods and prices were agreed upon, as was an annual purchasing budget. Since then, that is the operations model which has been in use. Throughout the years, cooperation has been smooth and both parties have been satisfied. VEO is excited to see what cooperation with Neste will bring along in the future.

*) NExBTL refers to Next Generation Biomass To Liquid