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 1.3 TWh (150 MW) annually in the five
year period from 2021 to 2025.
The power contract supplements the power contract which was entered into in July
2015, totaling 0.9 TWh (100 MW) annually in the eight year period from 2018 to
2025. These two contracts replace 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) is replaced by
an internal power contract.
"I am pleased that we have been able to secure power for our Neuss aluminium
plant until the end of 2025. In line with the global trend, the German exchange-
traded forward power prices have fallen EUR 25-30 since 2012. Together with the
ongoing Better Rolled Products improvement ambition, which targets NOK 900
million in annual improvements by the end of 2019, this contract further
strengthens the competitiveness of our operations," says Executive Vice
President and Head of Rolled Products Kjetil Ebbesberg.
Hydro's Neuss plant is 100 percent owned by Hydro and located in the Western
part of Germany, close to Düsseldorf. It currently produces primary aluminium at
two-thirds of its total 235 000 mt annual capacity, then casting and delivering
sheet ingot to the next-door Alunorf hot rolling mill. Furthermore, the Neuss
plant is stepping up recycling and has recently commissioned a EUR-45 million
facility for recycling 50,000 tonnes of used beverage cans (UBC), contributing
to lower metal cost and Hydro's target to become carbon neutral by 2020.
Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle(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
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Datum: 02.06.2016 - 06:58 Uhr
Sprache: Deutsch
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