Statkraft Powers Hunton Fiber Expansion with Long-Term Electricity Deal
Fredrikstad, Norway – Statkraft will supply Hunton Fiber with electricity over the next eight years, supporting the company’s expansion plans amid growing demand for its wood fiber insulation products. The long-term power purchase agreement (PPA) signals a resurgence in demand for stable, competitively priced electricity from industrial customers, according to Statkraft.
The agreement provides Hunton Fiber with a secure and predictable energy supply,crucial for a production company experiencing strong growth,even within a challenging construction market. Demand for Nativo Trefiberisolation, Hunton Fiber’s flagship product, is increasing throughout the Nordic region, necessitating a reliable power source to meet production needs. This deal underscores a broader trend of businesses seeking to lock in energy costs through long-term agreements as economic uncertainties persist.
“Simultaneously occurring, it is indeed good to see that the demand for long-term power agreements is increasing again from both new and established customers,” stated Hallvard Granheim, Executive Vice President Market at Statkraft.
According to Arne Jebsen, Managing Director of Hunton Fiber, the agreement ensures “stable and competitive power prices over time,” a vital component for continued growth. “For us as a production company, this is an significant agreement,” Jebsen said.
The partnership comes as Hunton Fiber navigates a historically weak construction market while simultaneously experiencing robust demand for its sustainable insulation solutions. The company’s expansion, fueled by this new energy agreement, positions it to capitalize on the growing nordic market for eco-friendly building materials.
