The annual contract volume is 88 GWh, representing 10-15% of the Borregaard Sarpsborg site's annual consumption.

"This agreement is part of Hafslund's commitment to long-term power contracts and PPAs. As Norway's second-largest power production company, we want to be a partner for Norwegian industry and facilitate market-relevant power contracts", says Håvard Hvarnes, Director of Power Markets at Hafslund Kraft.

"This agreement will be a part of our long-term power supply and is also important for our strategy for electrification and reduced GHG emissions", says Per A. Sørlie, President and CEO of Borregaard.