Statkraft, Europe’s largest renewable energy producer, and Suomen Voima, a Finnish energy company, have signed a 15-year power purchase agreement (PPA) set to begin in January 2025. The deal covers an annual supply of approximately 100 gigawatt-hours (GWh) of electricity, sourced from Statkraft’s Bjurfors Nedre hydropower plant and Björkhöjden wind farm, both located in Sweden’s SE2 bidding zone. This marks Suomen Voima’s first PPA in Sweden, expanding its presence in the Nordic energy market.
Ketil Hovland, Senior Originator at Statkraft, expressed enthusiasm about the partnership: “We are pleased to have concluded this PPA hedging contract with Suomen Voima and look forward to 15 years of cooperation.”
The agreement combines two renewable energy sources, strengthening Suomen Voima’s energy portfolio. The Bjurfors Nedre hydropower plant, operational since 1959, has a capacity of 78 megawatts (MW) and generates around 400 GWh annually. Half of the PPA’s volume, approximately 50 GWh per year, will come from this facility.
The remaining 50 GWh will be supplied by the Björkhöjden wind farm, which began operations in 2015. The wind farm features 90 Siemens turbines with a total installed capacity of 288 MW, producing roughly 700 GWh annually.
Pekka Saijonmaa, CEO of Suomen Voima, emphasized the strategic importance of the deal: “We’d like to thank Statkraft for the enjoyable and productive collaboration. This agreement enhances our geographical diversification in the Nordics by securing our first deal in Sweden. It seamlessly integrates with our existing operations in the Finnish and Norwegian price zones.”
The partnership underscores both companies’ commitment to advancing renewable energy solutions and strengthening cross-border energy cooperation in the Nordic region.
