Statkraft and Hydro Energi executed a long-term power purchase agreement securing an annual supply of 876 GWh for 2031-2040, according to a weekly industry roundup. Statkraft also applied to the Norwegian Water Resources and Energy Directorate for a licence to replace existing hydropower plants.
Long-term PPAs are increasingly used by energy-intensive industries, including aluminum and chemicals, to secure competitive renewable electricity as European power markets become more volatile.
