Hydro Energi has entered into a long-term power purchase agreement (PPA) with Alpiq, involving the comprehensive supply of 1.18 terawatt-hours (TWh) of energy for the duration spanning from 2024 to 2032. The Power Purchase Agreement (PPA) will be incorporated into Hydro's power portfolio in Norway, encompassing captive power generation of 9.4 TWh annually and a contract portfolio of around 10 TWh with long-term commitments.
The utilisation of renewable energy sources and advanced technological infrastructure empowers Hydro to engage in aluminium production in Norway, resulting in a significantly reduced carbon footprint of around 75 per cent compared to the worldwide average.
Maintaining long-term power purchase agreements at competitive pricing is paramount for Hydro's sustained leadership in the worldwide low-carbon aluminium industry. The contract to Alpiq will be allocated to the NO3 price zone.
Alpiq is a prominent Swiss energy services supplier and power producer with a broad operational presence across Europe, encompassing countries such as Norway, Sweden, and Finland. The company provides its clientele with adequate energy generation, marketing, and optimisation services.
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