Statkraft Signs Eight-Year PPA to Power Hunton Fiber’s Insulation Factory

Statkraft, Norway’s leading renewable power producer, has entered into an eight-year power purchase agreement with building materials manufacturer Hunton Fiber to supply electricity for its wood fibre insulation facility in Gjovik. The agreement, which covers a total of 153 GWh, will come into effect on 1 January 2026 and supports Hunton Fiber’s growing production needs.

Although the PPA is not linked to a specific energy source, Hunton Fiber will continue to purchase Guarantees of Origin separately, ensuring that its operations at the Skjerven plant remain fully covered by certified renewable electricity, as in previous years. Statkraft, whose generation portfolio includes hydropower, wind, solar, and gas-fired power, highlighted the importance of such agreements in fostering industrial growth and long-term energy security.

Hallvard Granheim, executive vice-president for markets, expressed satisfaction at being able to deliver competitive electricity supply to support Hunton Fiber’s expansion, noting the renewed demand for long-term power agreements among both new and established industrial customers.

The deal underscores Statkraft’s role in strengthening the renewable energy transition while supporting Norway’s sustainable manufacturing landscape.

Source: Statkraft