Telenor and Hydro sign agreement for the supply of renewable energy

“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.

Read more: Fighting for the green grid

A total volume of 330 GWh will be supplied to Telenor annually through this agreement, and this amounts to more than 86 % of the current power consumption in Telenor’s Norwegian operations. The Stor-Skälsjön wind park will be comprised of 42 turbines and is in Sundsvall and Timrå municipalities in Sweden. Construction on the project is underway and commissioning is planned for November 2023.

Hydro Energy is responsible for commercial handling at Stor-Skälsjön and delivering of power from the wind park to 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. For more information, see www.telenor.com

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.