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Events / Business / Statkraft, Elkem sign power agreement
Business power purchase agreement

Statkraft, Elkem sign power agreement

Analysis based on 8 articles · First reported Jun 03, 2026 · Last updated Jun 03, 2026

Sentiment
60
Attention
4
Articles
8
Market Impact
General
Live prominence charts, article sentiment distribution, and event development timeline available on the Ergen Dashboard
Market Impact

The long-term power purchase agreement between Statkraft and Elkem provides Elkem with predictable and competitive electricity costs, which is positive for its stock price and operational stability. For Statkraft, it secures a significant long-term revenue stream, reinforcing its position as a major renewable energy provider. This stability in energy supply for a key industrial player like Elkem can have a positive ripple effect on the broader Norwegian and European industrial sectors.

Utilities Metals and Mining
Event Summary

Statkraft and Elkem have signed a new long-term power purchase agreement (PPA) for the period 2031-2037, with a total contract volume of 1,534 GWh. This agreement secures a competitive and predictable electricity supply for Elkem's Bjølvefossen plant in Norway, which is a major global supplier of foundry alloys. The PPA is crucial for maintaining industrial activity, local value creation, and sustainable production at the plant, which employs 150 people. Both Statkraft and Elkem executives highlighted the importance of such long-term contracts in supporting jobs and industrial competitiveness, especially given current market uncertainties. The agreement also enables Elkem to continue supplying strategic materials to European industry, contributing to the European Union's security.

Entities Involved
stock
Elkem
Elkem secures a competitive and predictable electricity supply for its Bjølvefossen plant, which is crucial for maintaining industrial production, jobs, and competitiveness in the global market for foundry alloys. This agreement strengthens its operational predictability and investment planning.
Importance 100.0 Sentiment 70.0
priv
Statkraft
Statkraft, as Europe's largest generator of renewable energy, benefits from securing a long-term power purchase agreement with a significant industrial consumer, ensuring predictable revenue and supporting its market position.
Importance 90.0 Sentiment 60.0
cnt
Norway
The agreement supports continued industrial activity and local value creation in Norway, reinforcing the link between energy and industrial development within the country.
Importance 70.0 Sentiment 50.0
alliance
European Union
The agreement enables Elkem to continue supplying strategic materials to European industry, supporting the EU's security in a turbulent geopolitical context.
Importance 40.0 Sentiment 30.0
per
Hallvard Granheim
Hallvard Granheim, EVP Markets in Statkraft, expressed satisfaction with the long-term power agreement, highlighting its role in supporting local jobs and value creation.
Importance 20.0 Sentiment 0.0
per
Inge Grubben-Strømnes
Inge Grubben-Strømnes, Elkem's SVP Foundry Alloys, emphasized the importance of long-term, competitive power agreements for maintaining industrial production and jobs in Norway.
Importance 20.0 Sentiment 0.0
Relationships
Statkraft related ↔ Norway
Norway related ↔ European Union
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