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Statkraft to supply 15.5TWh power to Hydro Energi

Published 10 April 2018

Norwegian hydropower company Statkraft has signed a new long-term power contract with Hydro Energi for the period 2021-2038.

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

The contract will contribute to supplying power to Norsk Hydro ASA's aluminium plants in Norway in the years after 2020, when the existing long-term power contract with Statkraft expires.

Hydro Energi AS is a wholly-owned subsidiary of Norwegian aluminium company Norsk Hydro ASA.

Statkraft market operations & IT EVP 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 energy and corporate business development executive vice president and 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.