Hydro Signs Hydropower Contract for Norwegian Aluminium Portfolio

Norsk Hydro ASA's fully owned subsidiary Hydro Energi AS has signed a new long-term power contract with Hafslund E-CO Vannkraft AS for an aggregated

supply of 0.9 TWh in the period from 2021 to 2027.

Hydro and Hafslund E-CO Vannkraft AS already have a good cooperation and signed a contract for an aggregated supply of 1.18 TWh in June.

Since 2014, Hydro has signed 16 long-term power purchase agreements, all of which based on hydropower or wind power. Together with Hydro’s 10 TWh captive hydropower production in Norway, the long-term PPAs will be used in Hydro’s aluminium production in Norway in the coming decades.

Hydro’s 1.15 million tonnes per year primary aluminium production capacity in Norway is 100% supplied with renewable power. World-wide, Hydro’s corresponding renewable power share is above 70%.

The contract with Hafslund E-CO Vannkraft AS spans from January 1, 2021 to December 31, 2027, with delivery to price area NO5.

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