Telenor and Hydro sign agreement for the supply of renewable energy

Telenor has entered into a 10-year Power Purchase Agreement (PPA) with Hydro for the supply of renewable energy to power Telenor’s Norwegian operations. The energy will be generated by the Stor-Skälsjön wind park in Sweden.

“As part of Telenor Group’s commitment to reduce our greenhouse gas emissions and meet our science-based targets, we are pleased to have entered into this agreement with Hydro for the provision of renewable energy to our operations in Norway. For Telenor to reduce our greenhouse gas emissions, sourcing renewable electricity is key, and Power Purchase Agreements are our preferred mechanism to do so, as they can contribute to new capacity of renewable energy,” says Cecilie Heuch, Executive Vice President, Chief People and Sustainability Officer at Telenor Group.

“We are looking forward to supplying Telenor with renewable power as part of their sustainability agenda. When companies like Telenor are committing for the long-term offtake of power from wind projects not yet in operation, they are contributing to new capacity of renewable power, as well as decarbonizing the Nordic power market. This is the first transaction showing Hydro REIN and Hydro Energy’s ability to offer renewable power solutions to external customers. Hydro REIN aims at becoming the preferred supplier of renewable power for industrial clients, and Telenor is a great example of that,” says Olivier Girardot, Head of Hydro REIN.