Hydro signs long-term power contract with Statkraft
London, 20 March 2024, (Oilandgaspress): – Hydro Energi AS has signed a long-term power purchase agreement (PPA) with Statkraft for the total delivery of 1.28 TWh in the period from May 2024-2027.
The PPA will be part of Hydro Energy’s total power portfolio, which consists of captive power production of 9.4 TWh per year and a long-term contract portfolio of around 10 TWh.
The contract spans from May 1, 2024 to December 31, 2027, with delivery in the price area NO3.
In addition to being a significant market player in the Nordic power market, Hydro Energy is responsible for acquiring power for Hydro’s aluminium production. Renewable power is key to produce aluminium in Norway with a carbon footprint of about 75 percent less than the global average and it is needed to succeed with Hydro’s technology roadmap towards zero emissions in 2050.
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