Elkem secures long-term power purchase agreement with Statkraft for Bjølvefossen plant operations in Norway
Type: Ppa · Technology: Industrial · Country: Norway · Announced: 2026-06-06
Elkem entered a long-term power purchase agreement with Statkraft to secure electricity supply for its Bjølvefossen plant in Norway, ensuring the continued operations of the facility as a major producer of foundry alloys. The agreement stabilizes energy costs for Elkem’s industrial operations, which rely on low-carbon processes to maintain competitiveness amid market volatility and geopolitical uncertainty. Statkraft, a leading renewable energy company in Europe, will provide the power under terms that support Elkem’s sustainability goals and local employment in the region. The Bjølvefossen plant, located in western Norway, specializes in the production of high-purity silicon and ferrosilicon, critical inputs for industrial applications. This deal underscores the growing importance of long-term energy contracts in securing industrial supply chains for energy-intensive manufacturing.
Analysis
Elkem has announced a long-term power purchase agreement with Statkraft to secure electricity for its Bjølvefossen plant in Norway, commencing in 2026. Statkraft, a leading renewable energy company in Europe, has previously acted as a developer in an onshore wind Virtual Power Purchase Agreement in Germany. The agreement stabilizes energy costs for Elkem's industrial operations, which rely on low-carbon processes for producing high-purity silicon and ferrosilicon.
Key points
- Elkem announced a long-term PPA with Statkraft.
- The agreement is for the Bjølvefossen plant in Norway.
- The PPA commences in 2026.
- Statkraft has a track record including an onshore wind VPPA in Germany.
Counterparties
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