In a statement, Norwegian-owned Statkraft said the 10-year financial agreement sets a fixed price for 20% of CMC Poland’s power consumption. The agreement begins in 2021. Statkraft said it is was able to offer the agreement on the back of its Polish renewable power purchase agreement portfolio.

“As a market integrator, Statkraft enables the development of renewable projects and simultaneously ensuring long-term price stability to customers such as CMC. This transaction shows CMC’s leadership in the energy-intensive industry, which I expect will be followed by others,” said Koen Dejonghe, Statkraft business development manager.