Source - GNW

(Oslo, 9th April 2018) Statkraft and Hydro Energi AS have signed a new long-term power contract for the period 2021-2038. The total volume is 15.5 TWh with annual supply of 0.75 TWh from 2021 to 2030 and 1 TWh from 2031 to 2038.

The contract will contribute to supplying power to Norsk Hydro ASA's aluminium plants in Norway in the years after 2020, when the existing long-term power contract with Statkraft expires. Hydro Energi AS is a wholly-owned subsidiary of Norwegian aluminium company Norsk Hydro ASA.

"We are very happy to extend our extensive and long-lasting cooperation with Hydro Energi. The Norwegian power-intensive industry is our most important customer. It pleases me that Statkraft can offer competitive contracts and continue to be an attractive and preferred partner to the industry", says EVP Market Operations & IT in Statkraft, Hallvard Granheim.

"We have a good and long-standing relation with Statkraft, and I am pleased that we have been able to secure additional long-term renewable power for our Norwegian aluminium portfolio at competitive terms", says Executive Vice President and Head of Energy and Corporate Business Development in Norsk Hydro ASA, Arvid Moss.

About Statkraft
Statkraft is a leading company in hydropower internationally and Europe's largest generator of renewable energy. The Group produces hydropower, wind power, solar power, gas-fired power and supplies district heating. Statkraft is a global company in energy market operations. Statkraft has 3600 employees in 16 countries.

For further information:

Knut Fjerdingstad, Press spokesperson, Statkraft AS
Tel: +47 901 86 310
[email protected]

Halvor Molland, SVP Media relations, Norsk Hydro ASA
Tel: +47 929 79 797
[email protected]

www.statkraft.com

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Source: Statkraft AS via Globenewswire