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Norsk Hydro: Hydro signs long-term power contract for Norwegian aluminium portfolio

Norwegian aluminium company Norsk Hydro ASA has signed a long-term power
contract with Norwegian renewable energy producer Agder Energi AS for power
supplies to Hydro's aluminium plants in Norway.

The Power Purchase Agreement (PPA) between Hydro's fully owned subsidiary
Hydro Energi AS and Agder Energi Vannkraft AS covers electricity supply over
a 10-year period from January 1, 2021, with an annual volume of 1 terawatt
hour (TWh) and a total delivery of 10 TWh.

"The power contract is a first move towards securing long-term power supply
for Hydro's Norwegian smelter portfolio after the existing long-term power
contract with Statkraft expires in 2020," says executive vice president and
head of the Primary Metal business area in Hydro, Hilde Merete Aasheim

Investor contact

Contact Pål Kildemo

Cellular +47 97096711

E-mail Pål.Kildemo@hydro.com

Press contact

Contact Halvor Molland

Cellular +47 92979797

E-mail Halvor.Molland@hydro.com


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Norsk Hydro via Globenewswire


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