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Hydro signs long-term power contract for Karmøy pilot

Norwegian aluminium company Norsk Hydro ASA’s fully owned subsidiary Hydro Energi AS has signed a long-term power contract with Axpo Trading AG, a Switzerland-based energy company with captive power production and international trading activity, for annual supply of 0.25 terrawatt hours (TWh) over 10 years from January 1, 2021, and a total delivery of 2.5 TWh.

The contract covers a fourth of the Karmøy pilot plant’s power needs in the period 2021-2030. Hydro has already signed a contract with Lyse Produksjon AS for 330 GWh annually, or a third of the plant’s power needs, for the period 2031-2040.

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