Norsk Hydro, Statkraft sign power deal
Analysis based on 6 articles · First reported Apr 29, 2026 · Last updated Apr 30, 2026
The long-term power purchase agreements between Norsk Hydro and Statkraft are expected to positively impact the aluminium and renewable energy sectors in Norway. Norsk Hydro's stock price may see a positive reaction due to secured energy supply, enhancing its operational stability and competitiveness.
Norsk Hydro and Statkraft have signed two long-term power purchase agreements (PPAs) for the supply of 12.3 TWh of power over a 10-year period, from 2029 to 2038. This agreement will secure electricity for Norsk Hydro's primary aluminium production plants in Norway, with deliveries split between the NO2 and NO3 price areas. Birgitte Vartdal, CEO of Statkraft, highlighted the importance of securing electricity for Norwegian industry, while Eivind Kallevik, CEO of Norsk Hydro, emphasized how the agreement strengthens the long-term competitiveness of Norsk Hydro's aluminium operations and supports the delivery of future low-carbon solutions.
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