Oslo, Norway - December 18, 2024 - Elkem and Hafslund have entered into a long-term power agreement for the period 2028 to 2035. The annual contract volume is approximately 400 GWh, with delivery in the NO3 price area.

The new contract supports long-term operations at Elkem's Thamshavn plant and enables investments at the production facility, which is located in Mid-Norway. The plant, with its 150 employees, holds a key role in the local community. It is the third-largest export company in the Trøndelag county. In Thamshavn, Elkem converts power into the production of silicon and high-quality microsilica, which are critical raw materials used in health and personal care, solar cells, electric vehicles, electronics, and construction. More than 90 per cent of Norway's power production is based on renewable hydropower.

"With access to renewable hydropower and competitive, long-term power agreements, Norwegian industry has the best premise for producing world-leading silicon with a low carbon footprint," said Elkem's CFO Morten Viga. "Such agreements enable new investments in our Norwegian plants and allow us to continue delivering critical materials to existing and new green value chains globally, as Elkem has done since the early 1900s."

"Hafslund wants to be a long-term partner for Norwegian industry and facilitate market-relevant power contracts. This agreement with Elkem fits perfectly with our commitment to offer long-term power contracts and PPAs to industry," says Håvard Hvarnes, Director of Power Markets at Hafslund Kraft.

For further information, please contact:
Marianne Stigset, VP Corporate Communications & Public Affairs, Elkem ASA
Email: marianne.stigset@elkem.com
Mobile: +47 411 88 482

Per Storm-Mathisen, Head of Communications, Hafslund Kraft AS
Email: Per.Storm-Mathisen@hafslund.no  
Mobile: +47 982 55 406

About Elkem
Elkem is one of the world's leading providers of advanced silicon-based materials shaping a better and more sustainable future. The company develops silicones, silicon products and carbon solutions by combining natural raw materials, renewable energy and human ingenuity. Elkem helps its customers create and improve essential innovations like electric mobility, digital communications, health and personal care as well as smarter and more sustainable cities. With a strong track record since 1904, its global team of more than 7,400 people has a joint commitment to stakeholders: Delivering your potential. In 2023, Elkem achieved an operating income of NOK 35.5 billion and CDP ratings of A on Forests, and A- on Climate Change and Water Security. Elkem is listed on the Oslo Stock Exchange (ticker: ELK), where the company is also included in the ESG Index. http://www.elkem.com
 

About Hafslund
Hafslund is Norway's second-largest power producer. The group wholly or partially owns 81 hydropower plants and one wind power plant with a total production of 22 TWh, enough electricity to supply more than 3 million people. In addition, we deliver 1.9 TWh of district heating to 400,000 people and businesses in Oslo and have 900,000 grid customers through our ownership in Elvia. www.hafslund.no