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Norsk Hydro (OSL:NHY) Norsk Hydro ASA has signed a contract for the supply of close to 18 terawatt hours (TWh) of power from Vattenfall AB in Norway over an eight-year period, starting in 2013.
Hydro expects the contract to secure the basis for continued operations at the Søral aluminium plant at Husnes, owned 49.9 percent by Hydro. The plant's current power supply contracts expire in 2012. The new contract covers about 85 percent of the electricity needs at Søral.
Hydro's share of Søral's primary aluminium production amounted to 80,000 tonnes in 2007.
