Borregaard, a Norwegian biorefinery company, will receive 445 gigawatt-hours of electricity from Statkraft through 2036, a supply volume equal to about 5% of its power use.
The agreement was announced Oct. 29. Deliveries are scheduled to begin Nov. 1, 2026, and continue through the end of 2036.
Borregaard said the contract will supplement its existing long-term electricity supply and support its strategy for electrification and lower greenhouse gas emissions. The company operates a biorefinery that makes biochemicals from renewable raw materials, which it says can replace oil-based products.
The new arrangement adds to a power contract the companies signed in 2019. Statkraft said it has made seven long-term power agreements with Norwegian industrial customers this year, with a combined volume of nearly 28 terawatt-hours (TWh). Its longest contract runs through 2040.
Statkraft said industrial and commercial customers are seeking contracts that make future electricity expenses easier to anticipate.
