Hydro signs long-term power contract for Norwegian aluminium portfolio

Norwegian aluminium company Norsk Hydro ASA has signed a long-term power contract with Norwegian renewable energy producer Agder Energi AS for power supplies to Hydro's aluminium plants in Norway.

The Power Purchase Agreement (PPA) between Hydro's fully owned subsidiary Hydro Energi AS and Agder Energi Vannkraft AS covers electricity supply over a 10-year period from January 1, 2021, with an annual volume of 1 terawatt hour (TWh) and a total delivery of 10 TWh.

"The power contract is a first move towards securing long-term power supply for Hydro's Norwegian smelter portfolio after the existing long-term power contract with Statkraft expires in 2020," says executive vice president and head of the Primary Metal business area in Hydro, Hilde Merete Aasheim.

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