Statkraft AS

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.

For further information:

Lars Magnus Günther, pressetalsperson Statkraft AS
tlf: +47 912 41 636
e-post: lars.gunther@statkraft.com

Tone Horvei Bredal, kommunikasjonsdirektør Borregaard
tlf:+47 924 67 711
e-post: tone.horvei.bredal@borregaard.com

or www.statkraft.com

About Statkraft
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,000 employees in 20 countries.

About Borregaard
Borregaard operates one of the world's most advanced and sustainable biorefineries. By using natural, renewable raw materials, we produce advanced and environmentally friendly biochemicals that can replace oil-based products. We employ 1180 man-years in plants and sales offices in 13 countries throughout Europe, Asia and the Americas and serve customers all over the world. 96 per cent of sales are generated outside Norway.