Tag: hydropower

EDF announces the signature of an agreement to sell EDF power solutions in the United States and Canada

Orrön Energy AB (“Orrön Energy” or “the Company”) is pleased to announce that it has entered into an agreement with Cloudberry Clean Energy ASA (“Cloudberry”) to combine the Company’s Nordic renewable energy platform and organisation, excluding the Karskruv windfarm, with Cloudberry (the “Transaction”), creating a leading Nordic independent power producer (“IPP”). As consideration for the Transaction, Orrön Energy will receive 27.01 percent of the shares in the enlarged Cloudberry, becoming its largest shareholder. In addition, loan balances and accrued interest of approximately MEUR 93 as of year-end 2025 will be settled or assumed by Cloudberry, and Orrön Energy will receive MEUR 4.2 in cash. Orrön Energy will take an active role in Cloudberry’s future growth through Board representation, bringing Orrön Energy’s and the Lundin Group’s experience of value creation into the combined entity. Orrön Energy will continue to own the Karskruv windfarm and its large-scale European development business, consisting of data centres, solar and battery projects.

 The General Meeting of EDF approves the payment of a dividend of €1 billon

(Oslo, Norway, 22 June 2026) – Hedda Felin has been elected to the Board of Directors of Statkraft, replacing Ingelise Arntsen, who is stepping down from the Board.

(Oslo/Lista, Norway 18 June 2026) Statkraft and Alcoa have signed two new power agreements securing electricity supply to support continued operation of Alcoa’s aluminium plant at Lista, Norway. The agreements provide a solid and predictable energy foundation for the smelter and help maintain both production and further development at the site.

Production Line 2 at Lista recently completed a successful restart of 31,000 metric tonnes per annum to reach its nameplate capacity of 95,000 metric tonnes for the plant. This marked an important milestone for Alcoa in Norway, with restored capacity and a strengthened industrial presence. Building on this, access to reliable and competitively priced power is essential for continued operations.

(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, Norway, 3 June 2026) Statkraft and Elkem ASA have signed a new long-term power purchase agreement (PPA) that secures competitive and predictable electricity supply for Elkem’s plant in Bjølvefossen, Norway. The agreement is for the 2031-2037 period, and the total contract volume is 1,534 GWh.

The agreement supports continued industrial activity, local value creation and sustainable production at Bjølvefossen. The plant employs 150 people and is one of the world’s largest suppliers of foundry alloys, with an annual production capacity of 60.000 mt. Its products are sold primarily in the EU and Asia and are used in sectors such as automotive, construction, renewable energy and defence. They are produced with a carbon footprint of around one-third of the global average.

“We are very pleased to sign yet another long-term power agreement with an important Norwegian industrial company. Long-term contracts at competitive terms help support local jobs and value creation at a time of significant uncertainty and volatility, says EVP Markets in Statkraft, Hallvard Granheim.

“Access to long-term, competitive power agreements is essential to maintain industrial production and jobs in Norway. This agreement with Statkraft strengthens the competitiveness of our Bjølvefossen plant and reflects the close link between energy and industrial development in Norway. It enables us to continue supplying strategic materials to European industry and supporting the EU's security in a turbulent geopolitical context,” says Inge Grubben-Strømnes, Elkem’s SVP Foundry Alloys.

Elkem has a strong portfolio of long-term power contracts in Norway, securing a significant share of its 3.5 TWh annual power consumption at competitive terms. The new agreement further strengthens predictability for the company’s operations and investment planning. 

For further information, please contact:

(Montreal, Canada/Oslo, Norway) – Statkraft has signed an agreement to sell Enerfín Canada, its renewables portfolio in Canada, to Atlantica Sustainable Infrastructure Ltd. The transaction includes the team, operating wind farms and a development portfolio.