Norsk Hydro: Hydro enters into new long-term power contract for Neuss aluminium plant in Germany
(Thomson Reuters ONE) -
Norwegian aluminium company Norsk Hydro ASA's fully owned subsidiary, Hydro
Aluminium Rolled Products GmbH , has secured a power contract with Axpo Trading
AG, a Switzerland-based energy company with captive power production and
international trading activity, totaling 0,9 TWh (100 MW) annually in the eight
year period from 2018 to 2025.
The new power contract will replace parts of an existing combination of internal
and external power arrangements entered into in 2012, supplying Hydro Neuss
primary aluminium plant with a total of 2.2 TWh (250 MW) annually in the period
from 2013 to 2017. In the period from 2018 to 2020, the remaining 1.3 TWh (150
MW) of the expiring power sourcing arrangement will be replaced by an internal
power contract supplied by Hydro.
"Together with ongoing portfolio high-grading efforts and German exchange
traded power prices falling around 20 euros since 2012, the new contract will
further strengthen the competitiveness of our German aluminium triangle,
consisting of the Neuss primary aluminum plant, the Alunorf hot rolling mill,
and the Grevenbroich finishing plant," says executive vice president and Head of
Rolled Products Kjetil Ebbesberg.
Hydro Neuss primary aluminium plant is 100 percent owned by Hydro and located in
Western Germany, close to Düsseldorf. It is currently running at two-thirds of
its total 235 000 mt annual capacity, delivering sheet ingot and recycled liquid
metal to the next-door Alnunorf hot rolling mill. The Neuss primary smelter is
currently undertaking a 50,000 tonnes capacity expansion of used beverage can
(UBC) recycling capacity, contributing to lower metal cost and Hydro's 2020
carbon neutrality target.
Investor contact
Contact Pål Kildemo
Cellular +47 97096711
E-mail Pål.Kildemo(at)hydro.com
Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland(at)hydro.com
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Norsk Hydro via GlobeNewswire
[HUG#1936408]
Unternehmensinformation / Kurzprofil:
Datum: 10.07.2015 - 08:01 Uhr
Sprache: Deutsch
News-ID 405969
Anzahl Zeichen: 2704
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