Hydro inks 13-year power purchase agreement with Fortum for aluminum plants
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Update time : 2023-10-13 15:13:53
Hydro Energi AS has inked a long-term power purchase agreement with Fortum, a Nordic energy company, for the procurement of 0.44 TWh per year to its aluminum plants for the period from 2024 to 2036.
Under the 13-year fixed-price contract, Fortum will supply a total of 5.7 TWh to Hydro’s aluminum plants in the price area NO3.
The long-term power purchase agreement is crucial to Hydro for its ambition towards zero emissions by 2050. Producing aluminum with the use of renewable power in Norway can reduce the carbon footprint by about 75% compared to the global average.
