Hydro’s part-owned smelter Slovalco signs power contract

Norsk Hydro ASA's part-owned aluminium smelter in Slovakia, Slovalco, has signed a Power Purchase Agreement (PPA) for power supply with Slovenské Elektrárne.

October 8, 2013

Following signing of a Letter of Intent for power supply, announced on July 18, Slovalco has entered into a PPA for electricity supply in the period 2014 to 2021.

The power contract is the most important element in securing the total power framework for Slovalco, while securing other elements, such as grid cost, are in process.

Slovalco is a fully consolidated aluminium smelter in Hydro, owned 55% by Hydro Aluminium AS. Slovalco has an annual production capacity of approximately 165,000 metric tons of primary aluminium.


Certain statements included within this announcement contain forward-looking information, including, without limitation, those relating to (a) forecasts, projections and estimates, (b) statements of management's plans, objectives and strategies for Hydro, such as planned expansions, investments or other projects, (c) targeted production volumes and costs, capacities or rates, start-up costs, cost reductions and profit objectives, (d) various expectations about future developments in Hydro's markets, particularly prices, supply and demand and competition, (e) results of operations, (f) margins, (g) growth rates, (h) risk management, as well as (i) statements preceded by "expected", "scheduled", "targeted", "planned", "proposed", "intended" or similar statements.

Although we believe that the expectations reflected in such forward-looking statements are reasonable, these forward-looking statements are based on a number of assumptions and forecasts that, by their nature, involve risk and uncertainty. Various factors could cause our actual results to differ materially from those projected in a forward-looking statement or affect the extent to which a particular projection is realized. Factors that could cause these differences include, but are not limited to: our continued ability to reposition and restructure our upstream and downstream aluminium business; changes in availability and cost of energy and raw materials; global supply and demand for aluminium and aluminium products; world economic growth, including rates of inflation and industrial production; changes in the relative value of currencies and the value of commodity contracts; trends in Hydro's key markets and competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.


Updated: October 11, 2016