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Join our new green growth journey

Would you like to shape the next phase of green industrial development in Hydro?

Green future

As part of our new strategic direction to diversify and explore new growth opportunities, Hydro has established two new organizational units in our Energy business area to develop green growth initiatives.

One unit, called Renewable Growth, will explore the development of renewable power projects outside our existing hydropower portfolio. The other, Batteries, will own the current engagements in current battery companies and explore new business opportunities in the battery value chain. In addition, we are strengthening our existing Energy Business Area with several interesting positions.

Would you like to join us?

If you would like to join us in further developing our business, have a closer look at our open positions in Energy, Batteries and Renewable Growth here:

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Learn more about our new business below. 

Batteries

Hydro is establishing a Batteries business unit to develop our position in the fast-growing battery sector.

Battery

The Battery business unit will actively develop current assets and projects in the battery sector and explore new opportunities for Hydro in the battery value chain. Our energy team has engaged in several ventures within battery and energy storage in recent years. Our minority share in the global leader within marine batteries, Corvus Energy, has been a success so far with establishment of automated manufacturing in Bergen. We have also taken a small share in the Swedish integrated battery start-up Northvolt, and our battery recycling joint venture Hydro Volt was recently announced.  

The battery sector is expected to grow very fast globally and in Europe, mainly on the back of the ongoing automotive industry transformation from fossil fuel to electrical vehicles. There is a demand for a European sustainable battery value chain, and Hydro and Norway is well placed to take significant positions in this sector. The next steps to realize this potential are to establish a dedicated team that will systematically build competence through hiring of experts, and actively develop and expand Hydro’s battery footprint.  

We aim to explore new growth in areas where our capabilities match the global megatrends, says Hilde Merete Aasheim, CEO & President.

Renewable Growth

Hydro is establishing a new business unit to develop renewable projects and businesses outside our hydropower portfolio, initially focusing on opportunities in the Nordic region and Brazil. The unit will also work on battery in use cases, initially for Hydro’s own plants.

Hydro wind power

Over the past five years, Hydro has contributed to developing several wind-power projects in Norway and Sweden through entering long-term power contracts. On the market side, we have taken on volume from wind power and turned it into baseload power for use in Primary Metal. Earlier this year, we took over operatorship of Tonstad, Norway’s second largest wind farm, and we have also built up interesting project leads in wind and solar power in Brazil for potential long-term contracts in Bauxite & Alumina and Primary Metal.

We see that Energy has great capabilities which enable us to take on an even bigger role in the development of renewable projects. We aim to enter projects at an earlier stage so we can take part in developing, commercialize, construct, co-own and in some places operate them, says Arvid Moss, EVP Energy and Corporate Development.

In recent years, Energy has also developed business opportunities connected to battery use cases at our plants. In many places, there is a business case to establish storage capacity to avoid peak power prices and tariffs.

In order to explore these opportunities further, Hydro Energy has decided to establish a new organizational unit to develop renewable power projects outside our existing hydropower portfolio with focus on the Nordic region and Brazil, and work on battery use case opportunities globally across Hydro’s network of industrial sites.

Energy

With more than 100 years of experience in hydropower, Hydro is one of the top three largest operators of power production in Norway.

Satisfied Hydro Energy Employee

We have substantial, self-generated power capacity to support our production of primary metal and are engaged in several initiatives to secure competitive power supplies for our aluminium operations.

Hydro Energy’s unit plays a vital role in this and consists of a highly competent cross-disciplinary team.