Hydro, a company specializing in aluminum and renewable energy, and NKT, a provider of electrical cabling solutions, have signed a long-term supply agreement to provide aluminum wire rod for the manufacture of medium and high voltage cables in Europe. This contract responds to the growing European drive to modernize its energy infrastructure.
The agreement contemplates the supply of up to 274,000 tons of aluminum between 2026 and 2033, with an option to increase the volume. This material could be used to manufacture enough cable to go around the world nine times or reach the Moon. The estimated value of the contract is about 1 billion euros, subject to the price of metal and final quantities.
This is the first contract formalized following Hydro’s recent investment of 1.65 billion Norwegian kroner in a new wire rod foundry in Karmøy (Norway). Production will be focused on REDUXA 4.0, an aluminum produced with renewable energy and with a carbon footprint of less than 4 kg of CO₂ per kilo, well below the global average.
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