Statkraft has signed a binding heads of terms with industrial-scale battery manufacturer FREYR Battery for the supply of renewable power to Freyr’s planned production facility in Mo i Rana, Norway.
The deal involves the long-term power supply to Freyr’s customer qualification plant and combined Gigafactory 1 & 2, covering all of the company’s expected power demand for the period 2024-2031.
In detail, Statkraft committed to deliver 23MW baseload power with an accumulated delivery of 1.4 terrawatt-hours over the contract period as well as the provision of guarantees of origin.
The renewable energy will be supplied out of Statkraft’s 500MW Rana hydropower plant.
“This agreement with Statkraft ensures that our production facilities in Mo i Rana will have a steady, long-term supply of hydropower from local sources, keeping our carbon footprint to a minimum as we speed forward to full operations,” said Tove Nilsen Ljungquist, EVP operations of Freyr.