Statkraft and Norske Skog enter into long-term power supply agreement

2010.12.23 12:10 | stock exchange information

Statkraft entered into a long-term power supply contract with Norske Skogindustrier ASA for delivery to the newsprint mill at Skogn in Nord-Trøndelag. The contract involves delivery of about 0.8 TWh power per year for the period of 1 January 2011 and through to 31 December 2022.

Statkraft is satisfied with the long-term power agreement with Norske Skogindustrier ASA for the newsprint mill at Skogn. As a main supplier to the Norwegian energy-intensive industry, it is important that Statkraft comes forward with competitive and commercial power supply agreements that offer predictability for both parties.

This agreement is in addition to the recently made agreement with ferrosilicon producer Finnfjord AS in Troms. From 2011 Statkraft supplies about 20 TWh of power yearly to the Norwegian and Scandinavian energy-intensive industry. The deliveries amount to about a third of Statkraft's total power generation.

Statkraft is Europe's leader in renewable energy. The group develops and generates hydropower, wind power, gas power and district heating, and is a major player on the European energy exchanges. Statkraft has more than 3 200 employees in more than 20 countries.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).