🇳🇴 Hydro signs long-term power contract with NTE
Hydro Energi AS has signed a long-term power purchase agreement (PPA) with NTE for a total delivery of 660 GWh in the period from 2027-2029.
The PPA will be part of Hydro Energy’s total power portfolio, which consists of captive power production of 9.4 TWh per year and a long-term contract portfolio of around 10 TWh.
The contract spans from January 1, 2027, to December 31, 2029, with delivery in the price area NO3.
In addition to being a significant market player in the Nordic power market, Hydro Energy is responsible for acquiring power for Hydro’s aluminium production. Renewable power is key to produce aluminium in Norway with a carbon footprint of about 75 percent less than the global average and it is needed to succeed with Hydro’s technology roadmap towards net-zero emissions in 2050.
About Hydro
Hydro is a leading aluminium and energy company committed to a sustainable future. Hydro’s purpose is to create more viable societies by developing natural resources into products and solutions in innovative and efficient ways. Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for 32,000 employees in more than 140 locations and 40 countries.
About NTE
NTE is a leading energy company focused on the production and distribution of renewable energy. The company has a significant presence in Trøndelag and Northern Norway, where they produce approximately 4.8 TWh of renewable energy annually. NTE is also involved in the development and management of energy infrastructure, as well as offering products and services that promote the transition from fossil fuels to renewable energy use.
Originally published on 10 March by Hydro.
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