The contract secures a total supply of 4.38 TWh of electricity to aluminium and renewable energy company Hydro from 2025 through 2034. The power from Å Energi will be delivered in Norwegian electricity price area NO3.
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. As several existing long-term power agreements will begin to expire at the end of 2030, Hydro is actively pursuing a range of available sourcing options to meet the demand for renewable power to its operations.
Å Energi is Norway's largest renewable energy group with operations throughout the value chain, from power production to end customers. Å Energi's vision is to power a renewable future. The group's most important social mission is to increase the production of renewable energy, ensure that electricity is delivered efficiently through the grid, and develop new and better energy services in Norway and the Nordic region. The group has over 2,000 employees in seven countries.
Hydro is a leading aluminium and energy company committed to a sustainable future. Hydro’s purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways.
Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for its 33,000 employees in more than 140 locations and 40 countries.
Published: December 18, 2024
