en.Wedoany.com Reported - Elkem has signed a long-term power agreement with Statkraft to ensure the continued operation of its Bjølvefossen foundry alloy plant in Norway, supporting approximately 150 local jobs and strengthening low-carbon production. The plant has an annual capacity of 60,000 metric tons and is one of the world's largest producers of foundry alloys, with a product carbon footprint roughly one-third of the global industry average.

The plant's products are primarily supplied to customers in Europe and Asia, widely used in industries such as automotive, construction, renewable energy, and defense. Inge Grubben-Strømnes, Senior Vice President of Elkem Foundry Alloys, stated that securing long-term, competitively priced electricity is crucial for maintaining Norwegian industrial production and safeguarding jobs. He noted that the agreement with Statkraft enhances the competitiveness of the Bjølvefossen plant and highlights the close link between energy availability and industrial growth.

The agreement will also enable Elkem to continue supplying strategic materials to European industry, contributing to the EU's industrial security during a period of geopolitical uncertainty. Hallvard Granheim, Executive Vice President of Markets at Statkraft, said that such long-term contracts provide stability for industrial companies, helping to protect jobs and create long-term value amid increased market volatility and uncertainty.

Elkem already has a strong portfolio of long-term power contracts in Norway, securing a significant portion of its annual electricity consumption of 3.5 TWh at competitive prices. The new agreement further improves the predictability of the company's operations and strengthens its confidence in planning future investments.

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