Statkraft Secures 4.8 TWh Power Deal with Alcoa for Norwegian Aluminium Plant
Event summary
- Statkraft and Alcoa signed power agreements for 4.8 TWh of electricity from 2028–2031 to support Alcoa’s aluminium plant at Lista, Norway.
- The deal follows the successful restart of Alcoa’s Production Line 2, reaching its nameplate capacity of 95,000 metric tonnes annually.
- Statkraft highlights the importance of predictable regulatory frameworks and long-term power access for Norwegian industry.
- Alcoa is the latest of several large industrial companies to enter into new long-term power agreements with Statkraft this year.
The big picture
The agreement underscores the critical role of stable and competitively priced energy in maintaining industrial operations, particularly in power-intensive sectors like aluminium production. Statkraft’s ability to deliver long-term power supply agreements reinforces its position as a key player in Norway’s renewable energy market. This deal also highlights the broader trend of industrial companies seeking secure energy sources to ensure operational continuity and growth.
What we're watching
- Energy Market Dynamics
- How the demand for long-term power agreements will impact Statkraft’s market position and pricing strategy.
- Industrial Stability
- Whether Alcoa can sustain its production levels and further development at the Lista plant with the secured power supply.
- Regulatory Influence
- The pace at which predictable regulatory frameworks will shape future power agreements in Norway’s power-intensive sectors.