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Statkraft to supply Hydro with 876 GWh of power annually under new long-term agreement. (IN BRIEF) Statkraft and Hydro Energi have signed a long-term power purchase agreement (PPA) securing 876 GWh of annual power supply from 2031 to 2040, representing a total of approximately 8.8 TWh over the contract period, with delivery in Norwegian electricity price area NO5. The agreement follows two additional long-term PPAs signed by Hydro and Statkraft in April 2026, covering 0.9 TWh per year in 2029 and 2030 and 1.3 TWh per year from 2031 to 2038. Statkraft said the latest contract is the third long-term agreement with Hydro this year and will provide stable, competitive power to Hydro's aluminium plants in Norway over the next decade, while Hydro said predictable power at competitive prices is vital to maintaining low-carbon aluminium production for customers in Europe. The companies said long-term power contracts help reduce risk, support predictable prices and revenues, and strengthen industrial competitiveness, jobs and value creation. (PRESS RELEASE) OSLO, 24-Aug-2026 - /EuropaWire/ - Statkraft has entered into a new long-term power supply agreement with Hydro Energi, further strengthening the energy partnership between the two Norwegian companies. Under the new power purchase agreement, Statkraft will deliver 876 GWh of electricity per year to Hydro from 2031 through 2040. The contract covers a total volume of approximately 8.8 TWh over the full agreement period. The electricity will be supplied in Norway's NO5 price area. The agreement adds to two long-term power contracts signed by Statkraft and Hydro in April 2026. Those earlier agreements secured deliveries of 0.9 TWh annually for 2029 and 2030, followed by 1.3 TWh annually from 2031 to 2038. Together, the contracts provide Hydro with greater long-term visibility over electricity supply for its aluminium operations in Norway. Hallvard Granheim, Executive Vice President Markets at Statkraft, said the latest agreement is the third long-term PPA signed with Hydro this year. He said the contracts will help ensure stable and competitive electricity supplies for Hydro's Norwegian aluminium plants over the coming decade. Granheim added that the agreements also underline Statkraft's role as a key power supplier to Norwegian industry. Kari Ekelund Thørud, Executive Vice President of Hydro Energy, said access to predictable, competitively priced electricity is essential for Hydro's aluminium production in Norway. She said the new agreement supports Hydro's ability to supply low-carbon aluminium and related solutions to customers in Europe. Long-term power contracts help reduce exposure to market volatility for both industrial customers and power producers. For industry, they support price predictability and future production planning. For Statkraft, they provide stable revenues and strengthen its position as a supplier to energy-intensive sectors. The companies said such agreements also support industrial competitiveness, employment and value creation in Norway. Hydro is working through several sourcing channels to meet its future power requirements. Alongside long-term agreements with suppliers such as Statkraft, the company is developing new renewable power projects and upgrading assets within its own renewable energy portfolio. The new PPA forms part of Hydro's broader strategy to secure reliable electricity for future aluminium production while continuing to serve European customers with low-carbon materials and solutions. Renew the way the world is powered Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,200 employees in 20 countries. Media Contact: Lars Magnus Günther Corporate media relations lead Telephone: +47 912 41 636 E-mail: [email protected] MORE ON STATKRAFT, ETC.: EDITOR'S PICK:

Statkraft applies to build new 257 MW Høyanger K5 and Breidal hydropower plants in Norway. Home " Energy " Hydropower " Statkraft applies to build new 257 MW Høyanger K5 and Breidal hydropower plants in Norway. Published on Aug 21, 2026 Discover more constructing Project Management Business & Industrial Statkraft has applied to the Norwegian Water Resources and Energy Directorate (NVE) for a licence to build two new hydropower plants - the Høyanger and Breidal plants - in Høyanger municipality, western Norway. The new facilities would replace the existing Høyanger K5A and K5B plants, delivering more renewable power and greater flexible capacity without new reservoirs, additional water resources or changes to existing regulation limits. The project forms part of Statkraft's plan, announced in May 2026, to invest NOK 80 billion in Norway over the next ten years to upgrade and further develop the country's hydropower assets. The investment framework for the Høyanger K5 development is just under NOK 3 billion. Making better use of a regulated watercourse. Høyanger K5A and K5B were commissioned between 1965 and 1979 and played an important role in the development of Høyanger as an industrial community. The plants remain in good condition, but several key components have limited remaining lifetime. Rather than carry out extensive reinvestments in the existing facilities, Statkraft is applying to build new plants that make more efficient use of the already-regulated water resources while securing production for decades to come. Discover more Energy & Utilities Construction Consulting & Contracting "This is a project that will deliver more power and greater flexibility from a watercourse that is already regulated," said Pål Otto Eide, Senior Vice President Development Nordics at Statkraft. "When older hydropower plants are facing major reinvestments, we must assess whether the resources can be utilised more efficiently." The application is one of several hydropower upgrades Statkraft is advancing across Norway, alongside its proposed US$890 million new Mår hydropower plant, as the company modernises ageing assets to raise output and flexibility from existing watercourses. More power and flexibility from existing regulation. Discover more The existing plants have a combined installed capacity of around 109 MW and annual production of approximately 700 GWh. The new plants are being applied for with a combined installed capacity of around 257 MW and estimated annual production of approximately 780 GWh - an increase of around 10 per cent in annual renewable output, alongside an improved ability to produce when demand for power is high. "Increased capacity and flexibility in the Norwegian power system are important for society," Eide said. "With this project, we can get more out of existing regulations and contribute more production during periods of high demand." Licensing, timeline and local impact. If a decision to build is taken, the construction period is estimated at four to five years. The project would generate local and regional ripple effects through the purchase of goods and services, while construction work would also cause local inconvenience, including traffic, noise, dust and temporary rig areas. "Hydropower projects must be assessed thoroughly. Even though this project builds on existing regulations, it will have impacts on the environment and the local community," Eide said. "Through the licensing process, the benefits and disadvantages will be weighed against each other, and the Høyanger community will have the opportunity to provide input during the consultation." Statkraft has been in dialogue with Høyanger municipality and other stakeholders about the plans for several years. NVE will now process the licence application and, as usual, submit it for public consultation, allowing the municipality, affected parties, sector authorities, organisations and others to provide input. If the project is granted a licence and demonstrates sufficient profitability, an investment decision will be made, and a detailed environmental and landscape plan prepared, before construction can begin. Project factsheet: Høyanger K5. Project: New Høyanger and Breidal hydropower plants (replacing Høyanger K5A and K5B) Location: Høyanger municipality, western Norway Developer: Statkraft Regulator: Norwegian Water Resources and Energy Directorate (NVE) - licence application submitted Investment framework: Just under NOK 3 billion Existing capacity: ~109 MW combined (Høyanger K5A and K5B, commissioned 1965-1979) New installed capacity: ~257 MW combined Existing annual production: ~700 GWh New annual production: ~780 GWh (an increase of around 10 per cent) Water resources: No new reservoirs, no additional water, no changes to existing regulation limits Estimated construction period: Four to five years (if approved) Status: Licence application under NVE review, ahead of public consultation

Statkraft applies for licence to build new Høyanger K5 hydropower plant. August 21, 2026 03:37 ET | Source: Statkraft AS (Høyanger, 21 August 2026) Statkraft applies for a licence from the Norwegian Water Resources and Energy Directorate (NVE) to build a new Høyanger hydropower plant and Breidal hydropower plant in Høyanger municipality. The hydropower plants will replace the existing Høyanger K5A and K5B hydropower plants and provide more renewable power for the industry and increased flexible capacity, without new reservoirs or additional water resources. In May, Statkraft announced plans to invest NOK 80 billion in Norway over the next ten years. A new Høyanger K5 hydropower plant is an important part of the plan to upgrade and further develop Norway's hydropower assets. The investment framework for the development is just under NOK 3 billion. Høyanger K5A and K5B were commissioned between 1965 and 1979 and have played an important role in the development of Høyanger as an industrial community. The plants are in good condition, but several key components have limited remaining lifetime. The alternative to a new plant would be extensive reinvestments in the existing facilities. Statkraft is therefore applying to build new power plants that makes better use of the regulated water resources while securing power production for many decades to come. "This is a project that will deliver more power and greater flexibility from a watercourse that is already regulated. When older hydropower plants are facing major reinvestments, we must assess whether the resources can be utilised more efficiently," says Pål Otto Eide, Senior Vice President Development Nordics at Statkraft. The existing plants have a combined installed capacity of around 109 MW and annual production of approximately 700 GWh. The new plants are being applied for with a combined installed capacity of around 257 MW and estimated annual production of approximately 780 GWh. This represents an increase of around 10 per cent in annual renewable power production and an improved ability to produce when demand for power is high. "Increased capacity and flexibility in the Norwegian power system are important for society. With this project, we can get more out of existing regulations and contribute more production during periods of high demand," says Eide. If a decision to build the power plants is taken, the construction period is estimated at four to five years. The project will generate local and regional ripple effects through the purchase of goods and services. At the same time, construction work will cause local inconvenience, including traffic, noise, dust and temporary rig areas. "Hydropower projects must be assessed thoroughly. Even though this project builds on existing regulations, it will have impacts on the environment and the local community. Through the licensing process, the benefits and disadvantages will be weighed against each other, and the Høyanger community will have the opportunity to provide input during the consultation," Eide continues. Statkraft has been in dialogue with Høyanger municipality and other stakeholders about the plans for several years. NVE will now process the licence application and, as usual, submit it for consultation. The municipality, affected parties, sector authorities, organisations and others may provide input. If the project is granted a licence and demonstrates sufficient profitability, an investment decision will be made, and a detailed environmental and landscape plan will be prepared before construction work can begin. Facts about the new Høyanger K5: * Will replace the existing Høyanger K5A and K5B plants with a new Høyanger K5 hydropower plant and Breidal hydropower plant. * Increases installed capacity from around 109 MW to around 257 MW. * Increases annual production by around 10 per cent, from approximately 700 GWh to approximately 780 GWh. * Does not involve additional water resources, new reservoirs or changes to existing regulation limits. Media contact: Geir Fuglseth, Statkraft AS: +47 913 70 572