Hydro and Statkraft sign long-term power contract
Hydro and Statkraft sign long-term power contract HELSINKI, Aug 24 (Reuters) - Norwegian aluminium producer Norsk Hydro NHY.OL said on Monday it has signed an agreement to purchase power from Norway's state-owned utility Statkraft from 2031 to 2040.
Hydro said in a statement it will secure a supply of 876 gigawatt hours (GWh) annually from 2031 to 2040, amounting to around 8.8 terawatt hours (TWh) in total.
"Long-term and predictable power at competitive prices is vital for Hydro's aluminium production in Norway," it added.
In April, Hydro and Statkraft signed two long-term power purchase deals for the total delivery of 0.9 TWh per year in 2029 and 2030, and 1.3 TWh per year from 2031 to 2038.
(Reporting by Elviira Luoma, editing by Louise Rasmussen)
((elviira.luoma@thomsonreuters.com; +48 58 769 66 46;))
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