Statkraft and Finnfjord enter into long-term power supply agreement

23.12.2010 08.00 | pressrelease

Man in front of smelter

Statkraft has entered into a long-term power supply contract with ferrosilicon producer Finnfjord AS located in Troms, Norway. The agreement is based on the delivery of 0.7 TWh power per year starting 1 January 2010 and through to 31 December 2022.

"Statkraft is satisfied with the long-term power supply agreement that we have entered into with Finnfjord AS," says CEO Christian Rynning-Tønnesen. "Statkraft is a main supplier to the Norwegian power intensive industry. Therefore, it is important for Statkraft to come forward with competitive power supply agreements that offer predictability for both parties."

By the end of 2010, the old statutory priced industrial contracts will no longer apply. From 2011, Statkraft will deliver about 19 TWh of power per year to the Norwegian and Scandinavian power intensive industry.

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.