Statkraft signs two long-term power purchase agreements with Hydro to supply 12.3 TWh of electricity for aluminium production in Norway
Type: Ppa · Technology: Industrial · Country: Norway · Capacity: 12.3 TWh · Announced: 2026-05-05
Statkraft secured two long-term power purchase agreements with Hydro to supply 12.3 terawatt-hours of electricity over the next decade for Hydro's aluminium production facilities in Norway. The contracts ensure Hydro receives stable and reliable energy access, which is critical for maintaining competitiveness in the aluminium market and advancing low-carbon industrial solutions. Statkraft, Europe's largest renewable energy producer, will deliver the electricity under agreements designed to support Hydro's smelting operations, which are energy-intensive and require consistent power supply. The deals underscore the strategic importance of renewable energy partnerships in enabling industrial decarbonization and securing long-term energy security for key manufacturing sectors. The agreements were announced on May 5, 2026, and highlight the growing role of corporate power purchase agreements in linking renewable energy developers with heavy industry.