Hydro Energi AS and Hafslund Kraft AS have signed a long-term power purchase agreement (PPA) that contemplates a total supply of 3.5 TWh between 2031 and 2040.
The agreement guarantees an annual supply of 350 GWh for ten years, originating from the NO3 electricity price area in Norway.
“We are pleased to announce this long-term contract with Hafslund. Renewable energy is essential for our mission to produce low-carbon aluminum and offer a strategic raw material for European industry,” said Kari Thørud, Executive Vice President of Hydro Energy.
Thanks to the use of renewable energy, Hydro can manufacture aluminum in Norway with a carbon footprint 75% lower than the world average. This type of energy is key for the company to meet its technological roadmap towards net zero emissions by 2050.
The company continues to explore various green energy supply options to cover its future demand. In addition to long-term agreements such as the one reached with Hafslund, Hydro is developing new renewable energy projects and modernizing its own energy assets.
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