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Norsk Hydro: Hydro's part-owned aluminium plant Alouette agrees on terms and conditions for supply of electricity

OSLO, Norway, Sept. 10, 2015 (GLOBE NEWSWIRE) -- Norsk Hydro ASA's part-owned aluminium plant in Canada, Alouette, and the Government of Québec agreed on new terms and conditions for the existing supply of electricity for the 13-year period from 2017 to 2029. After signing the agreement setting the new power price, details have to be finalized with the electricity supplier Hydro Quebec.

The price of electricity will be linked to the market price of aluminium in the new contract, and the terms are fixed for the period from 2017 to 2029 and refer to a total of 8,5 TWh (965 MW) annually.

Aluminerie Alouette is located in Sept-Îles, Canada, and is the largest aluminium plant in North America, with an annual production capacity of 600 000 mt primary aluminium. Alouette is owned 20% by Hydro Aluminium AS.

Investor contact
Contact Pål Kildemo
Cellular +47 97096711
E-mail Pal.Kildemo@hydro.com

Press contact
Contact Halvor Molland
Cellular +47 92979797
E-mail Halvor.Molland@hydro.com

HUG#1951116

Source:Norsk Hydro