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Statkraft and Alcoa have signed two long-term power purchase agreements (PPAs) to support the continued operation of Alcoa’s aluminium plant at Lista, Norway.
{alcircleadd}The agreements will see Statkraft deliver around 4.8 terawatt-hours (TWh) of electricity between 2028 and 2031, giving the plant more certainty over its future power costs.
The deal follows the successful restart of Electrolysis Hall 3 at the Lista facility, which increased annual production capacity by 31,000 tonnes and brought the total capacity of the plant to 95,000 tonnes per year.
Alcoa said the restart is an important step for its Norwegian operations, strengthening the company’s industrial footprint and restoring production capacity at the site.
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“Securing access to stable and competitively priced electricity is crucial to maintaining aluminium production, one of the most energy-intensive manufacturing processes,” the company said.
The deal will support industrial activity and value creation in the region, continuing a long-standing relationship between the two companies, Statkraft said.
The new PPAs are part of a broader strategy by Alcoa to secure predictable power prices for its operations in Norway, and to reduce exposure to energy market volatility.
The deal highlights the importance of long-term power contracts to aluminium producers as the industry continues to focus on stable production, cost control and competitiveness.
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