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Hydro and Telenor sign long-term power contract

Telenor Infra AS has signed a 10-year power purchase agreement (PPA) with Hydro Energi AS for a total supply of 330 GWh annually from the Stor-Skälsjön wind park in Sweden, co-developed by Hydro Rein.


The 260 MW Stor-Skälsjön wind power project is located in Sundsvall and Timrå municipalities in Sweden (SE2). The park will comprise of 42 turbines. Construction has started and commissioning is planned for autumn 2023. It is partly owned by Hydro Rein, Hydro’s venture into renewable growth.

The 10-year contract with Telenor Infra will start when the park starts operations, and the power will be used to cover Telenor’s Norwegian consumption.

“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 supply 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,” says Olivier Girardot, Head of Hydro Rein.

“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”, Girardot says.

Hydro Energy is responsible for commercial handling at Stor-Skälsjön and delivering of power from the wind park to Telenor.

About Telenor

Telenor Group is a leading telecommunications company across the Nordics and Asia with 172 million customers and annual sales of around USD 13 billion (2021). We are committed to responsible business conduct and driven by the ambition of empowering societies. Connectivity has been Telenor's domain for more than 160 years, and our purpose is to connect our customers to what matters most. Telenor is listed at Oslo Stock Exchange under the ticker TEL. ​​​​​​​

About Hydro Rein

Hydro Rein was established in 2021 as part of Hydro’s strategy to grow in renewables. The company aims at becoming the preferred supplier of renewable power and other energy solutions for industrial clients.

Hydro Rein has a significant pipeline of wind and solar projects in Brazil and the Nordics for long-term power supply to Hydro and other industrial offtakers. Hydro Rein is also developing a range of energy solutions to assist industries with the management and optimization of its energy consumption and storage behind-the-meter.


Line Haugetraa

Line Haugetraa

Head of Investor Relations

Maria Melfald Tveten .jpg

Maria Melfald Tveten

Head of Communication & Public Affairs, Hydro Energy

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