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Statkraft and Telenor Ink 10-Year Agreement for Supply of Renewable Energy in Finland

The agreement ascertains that around 80 percent of the purchased power for Telenor’s Finnish subsidiary DNA, obtains from a new wind farm to be constructed in Finland.

July 03, 2023. By EI News Network

Telenor has inked a 10-year Power Purchase Agreement (PPA) with Statkraft.

The agreement ascertains that around 80 percent of the purchased power for Telenor’s Finnish subsidiary DNA, obtains from a new wind farm to be constructed in Finland.

The Palokangas wind farm is owned by Exilion Tuuli and begins its operations in late 2024.

Jannicke Hilland, Executive Vice President for Telenor Infrastructure at Telenor Group, added, “Telenor wants to support the construction of new renewable power plants in the markets we operate, and this agreement provides a solid contribution to the decarbonization of the electricity supply, as well as new capacity to hedge against volatile energy prices”.

A total volume of 85 GWh will be supplied to DNA annually through this agreement. The Palokangas wind park will consist of 12 turbines and be built in the Ostrobothnia region.

Arne Wist, Vice President Nordic Origination at Statkraft, added, “With this agreement, we support DNA in securing their energy needs as well as achieving their climate targets based on renewable energy from a new wind farm under development in Finland. It illustrates Statkraft’s role in the market where we match the needs of power producers and consumers to find profitable, risk-reducing, and sustainable solutions”.

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Power Purchase Agreement

Wind farm development

Sustainable solutions