Statkraft has signed a long-term power purchase agreement with Polish metal company CMC to power 20% of the latter’s electricity use.
Power will be provided from the Norwegian developer’s renewables portfolio and the deal starts in 2021.
CMC and Statkraft have developed a customised product suited for the needs of energy-intensive industry.
The financially settled PPA will co-exist with a physical supply contract, while providing a fixed price to CMC.
“As a market integrator, Statkraft enables the development of renewable projects and simultaneously ensuring long-term price stability to customers such as CMC,” said Koen Dejonghe, business development manager at Statkraft.
“This transaction shows CMC’s leadership in the energy-intensive industry, which I expect will be followed by others.”
CMD board president Jerzy Kozicz added: “Partnerships like these make it possible to support the growth of the industry. It also demonstrates our engagement and support to new technologies of energy generation in Poland.”