Hydro has signed a new long-term Power Purchase Agreement (PPA) with Statkraft, securing approximately 876 GWh of renewable electricity annually from 2031 to 2040 for its aluminium operations in Norway.
The agreement represents around 8.8 TWh of electricity over the full contract period, with deliveries taking place in the Norwegian NO5 electricity price area. For Hydro, securing predictable and competitively priced power is strategically important for maintaining the competitiveness of its Norwegian aluminium production while supporting the company’s low-carbon ambitions.
Hydro says renewable electricity enables it to produce aluminium in Norway with a carbon footprint approximately 75% below the global industry average. Reliable access to renewable power will also support the company’s ongoing modernisation programme and its technology roadmap towards zero-emission aluminium production by 2050.
The agreement is the third long-term power contract between Hydro and Statkraft signed in 2026. Earlier agreements secured additional electricity supplies for Hydro’s Norwegian operations for periods beginning in 2029 and 2031. 
Hydro is simultaneously pursuing a broader energy strategy, combining long-term external power contracts with the development of new renewable energy projects and upgrades to its existing renewable portfolio.
Source: Statkraft with additional information added by Glass Balkan
