Statkraft and Suomen Voima sign first PPA in Sweden

Statkraft and Suomen Voima have signed a 15-years power purchase agreement (PPA), effective as of January 2025. The contract corresponds to an estimated annual volume of 100 GWh, produced in the Nedre Bjurfors hydropower plant and the Björkhöjden wind farm. Both plants are owned and operated by Statkraft and are in the Swedish bidding area SE2, making this deal Suomen Voima’s first on Swedish ground. 

“We are pleased to have concluded this PPA hedging contract with Suomen Voima and are looking forward to 15 years of cooperation”, says Ketil Hovland, Senior Originator of Statkraft AS. 

The PPA, combining two production technologies, strengthens and diversifies Suomen Voima’s energy portfolio through its versatility and geographical scope. Nedre Bjurfors hydropower plant commenced operation in 1959 and holds a capacity of 78 MW as of today. The plant contains three turbines with gross head of 20 meters and produces roughly 400 GWh annually. Suomen Voima’s share of the annual production is about 50 GWh, half of the PPA’s contracted volume.  

Björkhöjden wind farm will deliver the other half of the PPA’s volume. The wind farm started operation in 2015 and consists of 90 Siemens wind turbines, each having a capacity of 3.2 MW, totaling an installed capacity of 288 MW and 700 GWh of annual production.  

Pekka Saijonmaa, CEO of Suomen Voima, praises the new venture: "We’d like to thank Statkraft for the enjoyable and productive collaboration. As a result, we have enhanced our geographical diversification in the Nordics by securing our first deal in Sweden, which seamlessly integrates with our existing operations in the Finnish and Norwegian price zones." 

For further information, please contact: 

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

Pekka Saijonmaa, CEO Suomen Voima
E-mail: pekka.saijonmaa@suomenvoima.fi 

About Statkraft
Statkraft is a leading company in hydropower internationally, Europe’s largest generator of renewable energy and the fourth largest electricity producer in Sweden. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has around 7,000 employees in more than 20 countries. 

About Suomen Voima
Suomen Voima is a Finnish power company with a power production portfolio of over 1 TWh spread around the Nordic countries. The company operates under the Mankala principle and is owned by 17 Finnish municipally or privately owned power companies with many of the companies having a history spanning over a century in the domestic energy sector.