Norsk Hydro ASA's fully owned subsidiary Hydro Energi AS has signed a new long-term power contract with Hafslund Eco Vannkraft AS, for an aggregated supply of 680 GWh in the period from 2022 to 2028.
Since 2014, Hydro has signed 17 long-term power purchase agreements (PPAs), all of which based on hydropower or wind power. Together with Hydro’s 9.4 TWh captive hydropower production in Norway, the long-term PPAs will be used in Hydro’s aluminium production in Norway in the coming decades.
Hydro and Hafslund Eco already have an established cooperation, which last year resulted in two power purchase agreements, with a total volume of 2.08 TWh, for delivery from 2021 to 2027.
Hydro’s primary aluminium production capacity in Norway is 100 percent supplied with renewable power. World-wide, Hydro’s corresponding renewable power share is above 70 percent.
The contract with Hafslund Eco spans from January 1, 2022, to December 31, 2028, with delivery to price area NO3.