Norsk Hydro ASA - 483.0 MW Corporate PPA deal

Hydro signs new long-term power contract for Norwegian aluminium portfolio

Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary Hydro Energi AS has signed a long-term power contract with Markbygden Ett AB, a Swedish wind power company, for annual baseload supply of 1.65 TWh in the period from the beginning of 2021 to the end of 2039.
Markbygden Ett AB is developing an onshore wind park located west of Piteå, in the northern of Sweden, and is owned by GE Energy Financial Services and Green Investment Group Limited, part of Macquarie Group Limited.

The wind park is a part of the larger Markbygden wind farm project developed by Svevind which is planned to have 1101 wind turbines and produce around 10 TWh annually when finalized.

The contract will contribute to supplying power to Hydro's aluminium plants after the existing long-term power contract with Norwegian state utility Statkraft expires in 2020.

Source: Hydro