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Statkraft signs 18-year power contract with Hydro Energi

Published 10 April 2018

Statkraft has signed a new 18-year power contract with Hydro Energi for the period 2021 - 2038.

The total volume is 15.5TWh with annual supply of 0.75TWh from 2021 to 2030 and 1TWh from 2031 to 2038.

The contract will contribute to supplying power to Norsk Hydro’s aluminium plants in Norway in the years after 2020, when the existing long-term power contract with Statkraft expires. Hydro Energi is a wholly-owned subsidiary of Norwegian aluminium company Norsk Hydro.

Statkraft market operations & IT executive vice president Hallvard Granheim said: “We are very happy to extend our extensive and long-lasting cooperation with Hydro Energi. The Norwegian power-intensive industry is our most important customer. It pleases me that Statkraft can offer competitive contracts and continue to be an attractive and preferred partner to the industry.”

Norsk Hydro executive vice president and energy and corporate business development head Arvid Moss said: “We have a good and long-standing relation with Statkraft, and I am pleased that we have been able to secure additional long-term renewable power for our Norwegian aluminium portfolio at competitive terms.”

Source: Company Press Release