Norway-based aluminium and energy company Hydro Energi has entered a long-term power purchase agreement (PPA) with NTE to secure 660 gigawatt hours (GWh) from 2027 to 2029.
NTE, which focuses on the production and distribution of renewable energy, will begin delivering power to Hydro Energi from January 2027 through to December 2029 under the PPA.
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The PPA will be included in Hydro Energi’s total power portfolio, which comprises 9.4 terawatt hours (TWh) of captive power generation annually and a long-term contract portfolio of 10TWh.
In addition to its role in the Nordic power market, Hydro Energi is responsible for procuring power for Hydro’s aluminium production.
NTE has established its presence in Trøndelag and northern Norway, where it generates 4.8TWh of clean energy annually.
NTE is also engaged in the development and management of energy infrastructure, while providing solutions that aid in the shift from fossil fuels to renewable energy sources.
Renewable power is vital for aluminium production in Norway, with a carbon footprint 75% lower than the global average, and key to Hydro’s net zero emissions target by 2050, according to the press release.
In December 2024, Axpo Nordic and Hydro Energi signed a ten-year contract to supply 2.63TWh of electricity to Hydro.
The long-term agreement, from 2026 to 2035, will see Axpo supply electricity in the SE2 price area, strengthening Hydro’s renewable energy portfolio.
Axpo Nordic had previously signed a power purchase agreement with Stegra to supply electricity to its integrated green hydrogen, green iron and green steel plant in Boden, Sweden.
