Elkem and Statkraft sign seven-year power agreement for Bjølvefossen plant in Norway

03 Jun 2026 08:00 CEST

Oslo, 3 June 2026

Elkem ASA and Statkraft 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
low-emission 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.

"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.

"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.

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:

Elkem:
Odd-Geir Lyngstad
VP Finance & Investor Relations
Tel: +47 976 72 806
Email: odd-geir.lyngstad@elkem.com

Marianne Stigset
VP Corporate Communications & Public Affairs
Tel: +47 411 88 482
E-mail: marianne.stigset@elkem.com

Statkraft:
Lars Magnus Günther
Corporate media relations lead
Tel: +47 912 41 636
E-mail: lars.gunther@statkraft.com

About Elkem:
Elkem is a global metals and materials company established in 1904. The company
holds leading positions in silicon, ferrosilicon, foundry alloys and carbon
solutions, supplying materials essential to modern society - from critical
infrastructure and manufacturing to digitalisation, mobility and energy
solutions. Elkem produces its materials by combining natural raw materials,
renewable energy and advanced process technology, creating solutions that enable
a more sustainable future. The company employs around 3,000 people, operates in
more than 30 locations across Europe, Asia, the Americas and Africa, and is
headquartered in Oslo, Norway where it is listed on the Oslo Stock Exchange
(ELK). Driven by innovation. Powered by nature. Shaping the future.

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