Hydro signs power purchase agreement with CPV for its Cressona operations
Hydro has signed power purchase agreement (PPA) with Competitive Power Ventures (CPV) for power supply to its Cressona operations. CPV will provide power to the Hydro Cressona facility in the second quarter of 2022.
The agreement consists of about 48MW of generation and is the first long-term energy contract signed by Hydro in the US.
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"Utilizing a renewable energy provider like CPV in the production of our aluminum products is the perfect complement for Hydro's sustainability goals, and we're excited to be the first site in North America to take this step," said Mike Hammer, Senior Director of Operations at Hydro Cressona. "The clean, locally-generated energy from CPV's Maple Hill site makes it an ideal facility to support our investments and world-leading capabilities in Cressona."
Energy from CPV's Maple Hill solar facility will secure power prices for the company’s aluminium extrusion plant in Cressona, Pennsylvania.
Hydro had announced that it would invest $48.3 million in Cressona, Pennsylvania, to support the growing transportation, distribution, and industrial market segments in North America.
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