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Borregaard signs long-term power contract with Eidsiva

Borregaard signs long-term power contract with Eidsiva

Eidsiva Vannkraft AS and Borregaard have entered into a long-term power contract for the delivery of a total of 6.1 billion kilowatt hours (6.1 TWh) in the period from 2013 to 2024.

The agreement between Eidsiva and Borregaard secures power deliveries for Borregaard’s plants in Sarpsborg from 1 January 2013 to 31 December 2024. The deliveries account for around 15 per cent of Eidsiva’s total annual production of power.

“This is a commercial power contract that tallies well with our production, in terms of both volume and delivery site. The contract helps to ensure predictable revenues for Eidsiva for 12 years during a period when the company will be making major investments in the production of renewable energy,” says Director Oddleiv Sæle at Eidsiva Vannkraft AS.

“Eidsiva is pleased to have signed a contract with a power-intensive industrial company. This industry is an important group of customers for Norwegian power companies. Power-intensive industry contributes to substantial value creation in Norway, based on Norwegian hydropower,” says Eidsiva CEO Ola Mørkved Rinnan.

“Borregaard is pleased to have secured a long-term power contract in the face of a situation where our industrial operations are being separated from our power operations. The contract with Eidsiva gives us predictable supplies of power on competitive terms,” declares Per A. Sørlie, Managing Director of Borregaard.