Aker Solutions Secures Major Hydropower Contract for Tussa II Project
Money

Aker Solutions Secures Major Hydropower Contract for Tussa II Project

authorBy Bola Sokunbi
DateJun 29, 2026
Read Time2 min

Aker Solutions has secured a substantial agreement with Tussa Energi to provide all necessary electromechanical components for the new 150 MW Tussa II hydropower facility. This strategic project aims to considerably boost the energy production capabilities at the current Tussa hydropower complex situated in western Norway, marking a significant step towards enhancing the region's renewable energy infrastructure.

The agreement, estimated to be worth between NOK 500 million and NOK 1.5 billion according to Aker Solutions' internal classifications, covers the delivery of critical infrastructure. This includes inlet pipes, two advanced 75 MW Pelton turbines, generators, sophisticated control systems, cooling and drainage systems, high-voltage equipment, and transformers. This comprehensive order is expected to be formally documented within the company's "Other" business segment during the second quarter of 2026, highlighting the project's broad scope and technical requirements.

The Tussa II endeavor is strategically designed to capitalize on the substantial elevation difference between the Tyssevatn reservoir, positioned approximately 637 meters above sea level, and Storfjorden. This design will elevate the installed capacity from the existing 64 MW to a robust 150 MW. Upon the commissioning of the new facility, the original hydropower station, which has been operational for over six decades, will undergo a modernization process and continue to serve as an additional power generation source, ensuring sustained energy supply and operational flexibility. The entire project is slated for completion and delivery by the year 2030.

This initiative represents a forward-thinking approach to sustainable energy development, reinforcing Norway's commitment to harnessing its abundant hydropower resources. By upgrading and expanding existing facilities, the nation not only strengthens its renewable electricity supply but also improves grid stability and flexibility, crucial for meeting the increasing energy demands driven by industrial electrification and the broader global energy transition. Projects like Tussa II are vital in establishing a resilient and environmentally responsible energy future.

More Articles
Money
Curis Expands Clinical Trial for CLL Treatment and Secures Shareholder Approval for Reverse Stock Split
Curis has initiated patient enrollment across 11 sites for its Phase II TakeAim CLL trial, investigating the combination of emavusertib and zanubrutinib for chronic lymphocytic leukemia. The company anticipates dosing the initial five patients by late July 2026, with data expected in December 2026. Concurrently, shareholders have approved a reverse stock split, aiming to meet NASDAQ listing requirements.
By T. Harv EkerJun 29, 2026
Money
AI Chip Trade Reshapes Emerging Market Investments
Emerging markets, traditionally seen as distinct from the US stock market, are increasingly intertwined with the artificial intelligence chip industry. South Korea and Taiwan, key players in semiconductor manufacturing, now dominate emerging market ETF assets, overshadowing China-focused funds. This shift means that investing in emerging markets often translates into exposure to the global AI hardware supply chain, blurring the lines between traditional emerging market diversification and the US tech trade. Investors must carefully examine the underlying assets of EM funds, as classifications by different index providers can significantly alter semiconductor exposure.
By T. Harv EkerJun 29, 2026
Money
Arm Holdings Expands Agentic-AI CPU Ecosystem with Oracle Cloud Infrastructure Partnership
Arm Holdings has announced that Oracle Cloud Infrastructure (OCI) has joined its Agentic-AI CPU ecosystem, further solidifying its position in the rapidly evolving AI landscape. This collaboration is set to enhance the capabilities of AI workloads by leveraging OCI's existing Arm-based infrastructure and extending it to next-generation AI processing. The new AGI CPU, designed for reasoning, planning, and continuous action in AI systems, promises significant performance improvements and cost savings for data centers.
By Chika UwazieJun 29, 2026
Money
JPMorgan Lowers Tesla's Q2 Delivery Projections Amidst Mixed Global Demand
JPMorgan analyst Rajat Gupta has revised down Tesla's Q2 delivery forecast to 420,000 units, citing varying electric vehicle demand worldwide. While the US and China show softer performance, Europe emerges as a stronger market for Tesla, boosted by recent Full Self-Driving approvals. Despite a recent stock decline, analysts remain optimistic about Tesla's long-term potential, though its short-term performance is closely tied to automotive sales trends.
By Dave RamseyJun 29, 2026
Money
Intel's Advanced Packaging Technology Poised to Outpace TSMC in Cost Efficiency
Mizuho analysts predict Intel's EMIB-T technology will offer a cost advantage over TSMC's CoWoS-L in advanced chip packaging, provided Intel improves production yields. This, along with Foveros and glass substrates, positions Intel to capture a significant share of the advanced packaging market, bolstering its position in the semiconductor industry.
By Vicki RobinJun 29, 2026