Statkraft and Finnfjord have signed a new long-term power contract for the period 2018 to 2031.
The contract will contribute to supplying power to Finnfjord’s ferro-alloy plant in Finnsnes and replaces the contract Statkraft and Finnfjord entered into in 2011.
Statkraft, a hydropower firm, is fully owned by the Norwegian state.
In recent years, the Statkraft Group has become a major European player in renewable energy as well as Norway’s largest and the Nordic region’s third largest energy producer.
Hallvard Granheim, EVP Market operation and IT at Statkraft, said: “We are happy to extend our comprehensive and long-term cooperation with Finnfjord.
“The company has shown impressing stamina in tough markets in recent years, and I am satisfied with the fact that Statkraft can offer competitive contracts and still be a preferred partner for Finnfjord and the industry”
Geir-Henning Wintervoll, CEO of Finnfjord, said: “This contract secures a solid economic foundation for Finnfjord for the next 13 years and enables the company to further develop more efficient and environmentally friendly manufacturing solutions.
“We are pleased that our power supplier since 1962 is with us and able to offer Finnfjord competitive and predictable framework conditions.”