Hydro and Statkraft sign long-term power contract

The agreement secures a total supply of approximately 8.8 TWh over the contract period. The power will be delivered in Norwegian electricity price area NO5.

“Long-term and predictable power at competitive prices is vital for Hydro’s aluminium production in Norway, and enables us to continue delivering low-carbon aluminium and solutions to our customers in Europe,” says Kari Ekelund Thørud, Executive Vice President of Hydro Energy.

Based on renewable energy, Hydro can produce aluminium in Norway with a carbon footprint about 75 percent less than the global average. Renewable energy is also key for Hydro to continue to modernize aluminium production and succeed with its technology roadmap towards zero emissions by 2050.

In April 2026, Hydro and Statkraft also signed two long-term power purchase agreements for the total delivery of 0.9 TWh per year in 2029 and 2030, and 1.3 TWh per year in the period from 2031 to 2038.[

“This is the third long-term power purchase agreement that Statkraft has entered with Hydro this year. These agreements provide stable and competitive power to Hydro’s aluminium plants in Norway over the next decade, and reinforce Statkraft’s position as the leading supplier of power to Norwegian industry,” says Hallvard Granheim, Executive Vice President Markets of Statkraft.

Hydro is pursuing a range of sourcing options to meet its future power demand. In addition to long-term contracts with counterparts like Statkraft, Hydro is developing new renewable power projects and upgrading assets in its own renewable energy portfolio.