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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.

Long-term contracts are crucial for Hydro to continue to lead the way in low-carbon aluminium globally. Renewable power plays a pivotal role to produce aluminium in Norway with a carbon footprint about 75 percent less than the global average and is key for Hydro to succeed with its technology roadmap towards zero emissions by 2050.

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.

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