Statkraft and Hydro: PPA for 876 GWh/year 2031–2040
- Annual supply of 876 GWh from 2031 to 2040.
- Total supply of approximately 8.8 TWh over the contract period, delivered in price area NO5.
- April 2026 agreements cover 0.9 TWh/year in 2029–2030 and 1.3 TWh/year in 2031–2038.
- Companies say long-term contracts provide predictable prices, stable revenues and strengthen industrial competitiveness.
Deal terms
Statkraft and Hydro Energi signed a long-term power purchase agreement securing an annual supply of 876 GWh in the period from 2031 to 2040. The agreement secures a total supply of approximately 8.8 TWh over the contract period, with delivery in Norwegian electricity price area NO5.
Earlier agreements
In April 2026 the parties also signed two long-term PPAs covering 0.9 TWh per year for 2029–2030 and 1.3 TWh per year for 2031–2038.
Strategic rationale
Both companies say long-term, predictable power at competitive prices reduces risk, provides stable revenues and helps strengthen industrial competitiveness, jobs and value creation. Statkraft described this as the third long-term PPA with Hydro during the year and said the agreements reinforce its position as a leading supplier of power to Norwegian industry.
Hydro’s sourcing approach
Hydro is pursuing a range of sourcing options to meet future power demand, combining long-term contracts with the development of new renewable power projects and upgrades to assets in its own renewable energy portfolio.
Source: Statkraft