Statkraft and Hydro Energi have signed a long-term power purchase agreement (PPA) in Norway. The agreement covers the supply of 876 GWh annually from 2031 to 2040, totalling to approximately 8.8 TWh over the contract period. The agreements will supply power to Hydro’s aluminium plants, with deliveries in NO5 electricity price area. The agreement follows two long-term PPAs signed by Hydro and Statkraft in April 2026 for the delivery of 0.9 TWh annually in 2029 and 2030, and 1.3 TWh annually from 2031 to 2038.
In August 2026, Statkraft agreed to invest approximately NOK 460 million in new control systems to modernise the Vikfalli hydro power plants located in Vik municipality, Norway. Vikfalli comprises the Målset, Refsdal and Hove power plants, which together can generate approximately 860 GWh annually. The plants annual output is equivalent to the electricity consumption of approximately 50,000 Norwegian households.
In July 2026, Statkraft agreed to invest in the Gran Sul onshore wind project located in Santa Vitória do Palmar, Brazil. The project has an installed capacity of 280 MW. Project construction is expected to commence in January 2027 and the project has already completed the required technical, environmental and regulatory processes.
