Statkraft Powers Hunton Fiberโ Expansion with Long-Term Electricity Deal
Fredrikstad, Norway – Statkraftโข will supply Hunton Fiber with electricity โขoverโข 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 โขresurgence in demandโ forโฃ stable, competitively priced electricity from industrial customers, according to Statkraft.
The agreement provides Hunton Fiber with aโค secureโฃ and predictable energy supply,crucial for โaโ production company โฃexperiencing strong growth,even within a challenging construction market. Demand for Nativo Trefiberisolation, Hunton Fiber’sโ flagship product, โis increasing throughout the Nordic โฃregion, necessitatingโ a reliable power source โto meet โคproduction needs. This โdeal underscores aโ broader trend of businesses seekingโข to โคlock in energy costs through long-term agreements as economic uncertainties persist.
“Simultaneouslyโ occurring, it is indeedโ good to see that theโ 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 โDirector of Hunton Fiber, the agreement ensures “stableโข and competitive power prices over time,” a vital component for continued growth. “For us as a production company, this is an significant โฃagreement,” Jebsen said.
The partnership comes as Hunton Fiber navigates a historically weak โคconstruction marketโค while simultaneously experiencing robust demand for itsโข sustainable โฃinsulation solutions. The company’s expansion, โfueled by this new energy agreement, positions it to capitalize on the growingโ nordicโ market for eco-friendly building materials.