Hydro Energi AS and Axpo Nordic sign a long-term power purchase agreement (PPA) for the delivery of 263 GWh annually to Hydro’s Norwegian aluminium plants from 2026 over a 10 year period.
The contract secures a total supply of 2.63 TWh of electricity to aluminium and renewable energy company Hydro from 2026 to 2035. Axpo will deliver electricity to Hydro in Swedish price area SE2.
The long-term contract will be part of Hydro’s Nordic power portfolio, which consists of captive power production of 9.4 TWh a year and a long-term contract portfolio of around 10 TWh.
With its existing long-term agreements beginning to expire at the end of 2030, Hydro is actively pursuing available options to meet the demand for renewable power to its operations.