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Statkraft and Borregaard sign 10-year power purchase agreement
(Oslo, Norway, 29 October 2026) – Statkraft and Borregaard have entered into a new long-term power purchase agreement. Power deliveries will commence on 1 November 2026 and continue through 2036. The total contracted volume is 445 GWh, covering around 5 per cent of Borregaard’s electricity consumption.
“This agreement will form part of our long-term power supply and is also important to our strategy for electrification and reducing greenhouse gas emissions,” says Tom Erik Foss-Jacobsen, President and CEO of Borregaard.
“We are currently seeing strong interest in different types of power agreements that provide industry and businesses with predictable electricity costs going forward. At the same time, we are particularly pleased to have Borregaard, an innovative and forward-looking company, renew its confidence in us,” says Hallvard Granheim, Executive Vice President Markets at Statkraft.
The new agreement adds to the long-term power purchase agreement the parties entered into in 2019.
So far this year, Statkraft has entered into seven long-term industrial power agreements in Norway, with a total contracted volume of close to 28 TWh until 2040.
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Lars Magnus Günther
Corporate media relations lead