This kind of deal is unique in Germany, Statkraft said. The electricity for Daimler's factories will be generated mostly by Statkraft's wind and solar projects in Germany, and then added to by its hydropower facilities when necessary.
This "ensures that the green electricity is generated at the same time as it is consumed", Statkraft said.
Some of the electricity will be generated from Statkfraft's wind and solar sites that exit Germany's support scheme programme at the end of 2020, meaning the projects can continue to operate without subsidy.
Additionally, Statkraft is also installing subsidy-free solar projects, it said.
Utility Enovos is responsible for the energy management process "including physical delivery, balancing group management, billing, grid usage, consumption forecasts and hedging of green electricity quantities", Statkraft said.
"To generate green electricity exactly when it is needed is a major challenge that can only be met with considerable flexibility in generation.
"Our flexible hydropower plants complement the fluctuating power generation from wind and solar so that a 100% renewable power supply is guaranteed at all times," said Statkraft CEO, Christian Rynning-Tønnesen.
In December 2018, Statkraft entered a power purchase agreement with Mercedes-Benz, part of the Daimler group, to power an electric car factory in north Germany with renewable electricity from 2021.