Statkraft Signs Two Long-Term Power Deals To Supply 12.3 TWh Of Electricity To Hydro For Its Aluminium Plants In Norway

Two new long-term power purchase agreements will provide a total of 12.3 TWh of electricity over the next decade to Hydro for its primary aluminium production facilities in Norway. Under these agreements, 8.8 TWh will be supplied to the NO2 price area and 3.5 TWh to the NO3 area, helping ensure stable and predictable energy access for the company’s highly energy-intensive operations.

According to Birgitte Vartdal, President and CEO of Statkraft, supporting national industry remains one of the company’s central responsibilities as Norway’s largest electricity producer. She noted that securing these long-term contracts with Hydro reinforces the strong relationship between the two organisations and ensures that the energy needs of a major industrial player can be met on competitive terms.

Hydro President and CEO Eivind Kallevik emphasized that the agreement demonstrates the essential role of power supply in driving industrial development in Norway. He explained that the new contracts with Statkraft strengthen the long-term competitiveness of Hydro’s aluminium operations. As aluminium is a critical material used across numerous sectors, he added that reliable access to energy is vital for developing the low-carbon solutions that customers increasingly demand.