Statkraft and Borregaard have entered into a new long-term power supply agreement. Deliveries will start on 1 November 2026 and continue until the end of 2036. The total volume is 445 GWh, covering around 5% of Borregaard’s power consumption.
“This agreement will form part of our long-term power supply and is expected to contribute to a lower average power price by reducing our exposure to the spot market. At the same time, the agreement is important to our strategy for electrification and reducing greenhouse gas emissions,” says Tom Erik Foss-Jacobsen, CEO of Borregaard.
“We are currently seeing strong interest in various types of power agreements that provide industry and businesses with greater predictability in future electricity costs. At the same time, we are particularly pleased that an innovative and forward-looking company such as Borregaard has renewed its confidence in us,” says Hallvard Granheim, Executive Vice President Markets at Statkraft.
The new agreement supplements the long-term power supply agreement entered into by the two companies in 2019.
About Borregaard
Borregaard operates one of the world’s most advanced and sustainable biorefineries. By using natural and renewable raw materials, the company produces advanced and environmentally friendly biochemicals that can replace oil-based products. With 1,150 full-time equivalents at production sites and sales offices in 13 countries across Europe, Asia and the Americas, the company serves customers worldwide. 96% of sales are generated outside Norway.
About Statkraft
Statkraft is a leading international hydropower company and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,200 employees in 20 countries.