Hydro and Axpo sign long-term power contract
London, December 02, 2024, (Oilandgaspress) ––– Hydro Energi AS and Axpo Nordic have signed a long-term power purchase agreement (PPA) for the delivery of 263 GWh annually to Hydro’s Norwegian aluminium plants from 2026 over a 10 year period.
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.
Information Source: Read More
Oil and gas press covers, Energy Monitor, Climate, Gas,Renewable, Oil and Gas, Wind, Biomass, Sustainability, Oil Price, LPG, Solar, Marine, Aviation, Fuel, Hydrogen, Electric ,EV, Gas,
