Statkraft to supply clean energy to FREYR Battery

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Statkraft, Europe’s largest producer of renewable energy has signed a binding Heads of Terms with FREYR Battery (NYSE: FREY) (“FREYR”), a developer of clean, next-generation battery cell production capacity.

The Heads of Terms is expected to be finalized as a long-term physical supply agreement, with the ambition to secure a long-term supply of renewable power under globally competitive terms for FREYR’s planned battery cell production project in Mo i Rana, Norway. The Heads of Terms and related energy services from Statkraft is projected to cover all of FREYR’s currently anticipated electricity needs for the period of 2024-2031 and to ensure physical delivery of energy from the central grid in Mo i Rana to FREYR’s Customer Qualification Plant... ... More: Official Press Release Statkraft

Keywords:

Statkrat, FREYR, battery, storage, battery cell production, capacity, agreement, renewable energy, long term, supply, baseload, PPA, hydropower