Utilities

AB “Ignitis grupė” (hereinafter – the Group) informs that on 16 June 2026 a EUR 150 million loan agreement (hereinafter – the Loan) was concluded between the Group and European Investment Bank.

AB “Ignitis grupė” (hereinafter – the Group) informs that on 16 June 2026 a EUR 150 million loan agreement (hereinafter – the Loan) was concluded between the Group and European Investment Bank.

AB „Ignitis grupė“ (toliau – Grupė) informuoja, kad 2026 m. birželio 16 d. Grupė ir Europos investicijų bankas pasirašė 150 mln. Eur paskolos sutartį (toliau – Paskola).

(Oslo, 14 June 2026) – Statkraft has decided to build the Blåfjell Pump, which will channel more water directly into Blåsjø, Norway’s largest hydropower reservoir. This will increase production in the Ulla-Førre power plants by 54 GWh. Four local and regional suppliers have been awarded contracts worth a total of NOK 250 million.

Thee four construction contracts have been awarded to contractors from Karmøy, Suldal, Voss and Grenland. Work on the pumping facility starts already this week.

Norway’s battery
Blåsjø is Norway’s largest “hydropower battery”, where water can be stored for several years to balance out weather-related variations between dry and wet years. The reservoir stretches across Ryfylke and Setesdal and is Norway’s largest reservoir in terms of stored energy.

In Hjelmeland municipality, just west of Blåsjø, there are three smaller lakes whose water currently flows down to Stølsdal power plant at a lower level in the Ulla-Førre system. Due to flood losses and constraints in this watercourse, the water can be used much more efficiently by instead being lifted around 60 metres up into the Blåsjø reservoir. The measure will increase electricity production in the NO2 price area by 54 GWh, equivalent to the annual electricity consumption of around 2,700 Norwegian households.

“Finally, after many years of planning and adjustments, we have found a profitable way to carry out the project. Getting more water into Blåsjø is perhaps one of the most valuable things we can do for society, because the reservoir can store the water for several years and we increase generation in existing hydropower plants. In this way, significantly more energy can be generated from an already developed system, with limited additional impact on nature,” says Executive Vice President for Development in Statkraft, Pål Otto Eide.

Statkraft recently announced that the company plans to invest NOK 70 billion in Norwegian hydropower over the next ten years, and the Blåfjell Pump project is part of this strategy.
“The Blåfjell Pump is one of many projects Statkraft is carrying out to help build and strengthen Norway. In total, our investments in the coming years represent one of the largest industrial boosts in the country,” says Eide.

Work starts now
The project includes a transfer tunnel, a pumping station inside the mountain, as well as several smaller transfer structures. The work will have a total cost of approximately NOK 300 million and starts this week, aiming to commission the pump by December 2027.

At the same time as the pumping facility is being built, Statkraft will also carry out improvements required by the Norwegian Water Resources and Energy Directorate (NVE) on four dams at the western end of Blåsjø. The plan is to complete all work during 2028.

Local ripple effects
For this project, Statkraft has chosen a contract strategy that has enabled participation from national, regional and local contractors alike. Among other things, the construction work has been split into four different contracts.

“It has been important for us to facilitate a form of competition where contractors can do what they do best, and where the contractors we also need in our day-to-day operations are able to take part in the bidding. We have noticed that there is less activity in the construction market, and competition for the contracts has been strong,” says Tor Oxhovd Svalesen, who has led the development of the project.

For further information, please contact
Nina Nerbøvik Holand, media spokesperson Statkrfaft AS
Tel: +47 48 22 17 75
E-mail: ninh@statkraft.com

(Oslo, 15. juni 2026) – Statkraft har besluttet å bygge Blåfjell Pumpe, som vil gi mer vann direkte inn i Norges største kraftmagasin, Blåsjø. Produksjonen i Ulla-Førre-anleggene øker med 54 GWh. Fire lokale og regionale leverandører er tildelt kontrakter på totalt 250 millioner kroner.

De fire bygg-kontraktene er tildelt entreprenører fra Karmøy, Suldal, Voss og Grenland. Arbeidet på pumpeanlegget starter allerede denne uka.

The Supervisory Board of Eesti Energia AS, upon the proposal of Chairman of the Management Board, Andrus Durejko, has appointed Mr Gerrit Mäesalu as Chairman of the Management Board of Enefit OÜ and Member of the Management Board of Eesti Energia AS. Mäesalu’s term of office will commence on 19 June 2026 and continue until 1 April 2027.

Eesti Energia AS-i nõukogu nimetas ettevõtte juhatuse esimehe Andrus Durejko ettepanekul Enefit OÜ juhatuse esimeheks ja Eesti Energia AS-i juhatuse liikmeks Gerrit Mäesalu. Mäesalu volitused algavad 19. juunil 2026 ning kestavad kuni 1. aprillini 2027. Senine Enefit OÜ juhatuse esimees ja Eesti Energia AS-i juhatuse liige Juhan Aguraiuja lahkub ettevõttest omal soovil 19. juunil 2026. Enefit OÜ on Eesti Energia kontserni elektriäri ettevõte.