Hydro has a well-established renewable power purchase agreement (PPA) portfolio in Norway and Sweden. The portfolio includes a long list of hydropower and wind power contracts, including two contracts, which at the time entered into were known to be the world's longest lasting and the world's largest corporate wind power PPAs.
The external PPA contracts come in addition to Hydro's captive hydropower portfolio in Norway, which adjusted for ownership shares will account for 9.4 TWh in a normal year as of 2021.
World-wide, more than 70 percent of Hydro's aluminium production is based on renewable power. In Norway, our aluminium production is based entirely on renewables. This sets Hydro apart in the global aluminium industry and represents a competitive advantage.