Sweden's state-owned power company Vattenfall and the Norwegian industrial group Elkem signed a long-term electricity supply agreement for the period 2020-2026, Vattenfall said Monday.
The deal is the first major supply agreement with Elkem and includes supply of 260 gigawatt-hours per year or a total of approximately 1.8 terawatt-hours, according to Vattenfall’s statement.
'Vattenfall is very pleased to start a long-term cooperation with Elkem and demonstrate our ability to continue the long-term partnership with the Norwegian base industry,' said Bjorn Bruvik, sales executive for Vattenfall in Norway.
Elkem’s Chief Financial Officer Morten Viga said the agreement ensured competitive prices and predictability for the company.
'For Elkem, sustainability is central to our business strategy and we aim to constantly reduce fossil carbon dioxide emissions. We therefore welcome the cooperation with Vattenfall, one of the Nordic region's largest producers of electricity from fossil-free energy sources,' he added.
According to the statement, founded in 1904, Elkem is one of the world's leading suppliers of silicon-based advanced materials. The company's operations are highly electricity intensive, especially the use of electric ovens for production of silicon, ferrous silicon and foundry products.
Based in Oslo, Elkem has over 6,000 employees, 27 production sites and sales offices in 28 countries around the world, with revenues of NOK 21.4 billion ($2.47 billion) in 2017.
By Hale Turkes
Anadolu Agency
energy@aa.com.tr