Suomen Voima Expands Into Swedish Market with 15-Year Power Purchase Agreement with Statkraft

Suomen Voima Expands Into Swedish Market with 15-Year Power Purchase Agreement with Statkraft

(IN BRIEF) Suomen Voima has signed a 15-year power purchase agreement (PPA) with Statkraft, effective from January 2025. The deal, totaling 100 GWh annually, will be supplied by Statkraft’s Nedre Bjurfors hydropower plant and Björkhöjden wind farm in Sweden’s SE2 bidding area. This marks Suomen Voima’s entry into the Swedish energy market. The hydropower plant contributes 50 GWh, while the wind farm, with 90 Siemens turbines, delivers the other half of the contracted volume. The agreement enhances Suomen Voima’s geographical diversification across the Nordic region.

(PRESS RELEASE) OSLO, 17-Jan-2025 — /EuropaWire/ — Suomen Voima has secured a significant 15-year power purchase agreement (PPA) with Statkraft, effective from January 2025. The deal, with an estimated annual volume of 100 GWh, will be sourced from the Nedre Bjurfors hydropower plant and the Björkhöjden wind farm, both operated by Statkraft in Sweden’s SE2 bidding area. This agreement marks the first venture of Suomen Voima into the Swedish energy market.

“We are pleased to have reached this agreement with Suomen Voima and look forward to the next 15 years of successful collaboration,” commented Ketil Hovland, Senior Originator at Statkraft AS.

By combining two distinct renewable energy sources, the PPA strengthens Suomen Voima’s energy portfolio, providing both diversity and geographical reach. The Nedre Bjurfors hydropower plant, operational since 1959, boasts a current capacity of 78 MW and consists of three turbines with a 20-meter gross head, generating approximately 400 GWh annually. Of this, Suomen Voima will receive about 50 GWh, which represents half of the total contracted volume.

The remaining 50 GWh will come from the Björkhöjden wind farm, which has been operational since 2015. The wind farm features 90 Siemens turbines, each rated at 3.2 MW, contributing to a total installed capacity of 288 MW and an annual production of around 700 GWh.

Pekka Saijonmaa, CEO of Suomen Voima, expressed his enthusiasm for the deal, stating, “We would like to thank Statkraft for their excellent cooperation. This agreement not only marks our first step into the Swedish market, but also enhances our regional diversification, complementing our existing operations across Finland and Norway.”

This deal underscores the growing collaboration between the Nordic energy sectors and highlights Statkraft’s expanding footprint in renewable energy production.

Media Contact:

Mikael Petrovic Wågmark
Head of Communications Statkraft Sweden
E-mail :mikael.petrovicwagmark@statkraft.com

SOURCE: Statkraft