Hydro Energi AS and Hafslund Kraft AS have signed a long-term power purchase agreement (PPA).
The contract secures an annual supply of 350 GWh over a 10-year period from 2031 to 2040.
The power from Hafslund will be delivered in Norwegian electricity price area NO3.
“We are pleased to announce this long-term contract with Hafslund,“ said Kari Thørud, Executive Vice President of Hydro Energy.
“Renewable energy is instrumental to our efforts to produce aluminium with low carbon emissions and deliver a strategic raw material for European industry.“
Based on renewable energy, Hydro can produce aluminium in Norway with a carbon footprint about 75% less than the global average.
Hydro is actively pursuing a range of available sourcing options to meet the demand for renewable power going forward.
In addition to long-term contracts with counterparts like Hafslund, Hydro is developing new renewable power projects as well as upgrading assets in its own captive renewable energy portfolio.
