Hydro Energi AS and Hafslund Kraft AS have signed a long-term power purchase agreement (PPA) for an aggregated supply of 3.5 TWh in the period from 2031 to 2040.

The contract secures an annual supply of 350 GWh over a 10 year period. The power from Hafslund will be delivered in Norwegian electricity price area NO3.

“We are pleased to announce this long-term contract with Hafslund. Renewable energy is instrumental to our efforts to produce aluminium with low carbon emissions and deliver a strategic raw material for European industry,” says Kari Thørud, Executive Vice President of Hydro Energy.

Based on renewable energy, Hydro can produce aluminium in Norway with a carbon footprint about 75 percent less than the global average. Renewable energy is key for Hydro to succeed with its technology roadmap towards zero emissions by 2050.

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 actively developing new renewable power projects as well as upgrading assets in its own captive renewable energy portfolio.

KeyFacts Energy Industry Directory: Hydro