Norwegian aluminium producer Hydro has signed a cross-border power-supply contract with Vattenfall for approximately 18TWh over the next eight years.
The announcement is said to represent one of the largest cross-border contracts since the integration of the Nordic electricity market.
Jørgen C Arentz Rostrup, Hydro’s executive vice-president, said: ‘Hydro is pleased that we have reached an agreement that is satisfactory for both parties and which we expect will secure the basis for continued commercial operations at the Søral aluminium plant at Husnes.
‘The plant's current power-supply contracts expire in 2012. This contract demonstrates both that Vattenfall is a committed long-term partner for Norwegian industry and Hydro's effort to develop its industry in Norway.’
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