Norwegian utility Statkraft and independent Spanish energy supplier Fortia Energia have signed a long-term renewable power purchase agreement (PPA) for large industrial customers in Spain and Portugal.

Statkraft will supply 3TWh of electricity over 10 years to Fortia, which manages power supply for companies in the steel, cement, metallurgy, chemical, paper and industrial gases sectors in the Iberian market.

The energy will be sourced from Statkraft's Spanish renewables portfolio which primarily consists of new wind and solar projects currently under construction.