Statkraft and Hydro Energi sign 8.8 TWh power purchase agreement

Statkraft and Hydro Energi have signed a long-term power purchase agreement (PPA) in Norway totaling approximately 8.8 TWh of electricity. The contract specifies an annual supply of 876 GWh from 2031 to 2040, with deliveries occurring in the NO5 electricity price area.

This agreement marks the third long-term PPA between the two companies signed in 2026. Previous agreements included deliveries of 0.9 TWh annually in 2029 and 2030, and 1.3 TWh annually from 2031 to 2038. The electricity is intended to supply Hydro’s aluminium plants, providing stable and competitive power to support low-carbon aluminium production.

Long-term contracts of this nature are designed to mitigate electricity price and revenue risks for both industrial consumers and power suppliers, fostering price predictability and industrial competitiveness.