Statkraft and Alcoa sign power agreements to secure 4.8 TWh supply
Statkraft and Alcoa signed two power agreements to supply 4.8 TWh of electricity to Alcoa's Lista aluminium plant from 2028 to 2031, ensuring stable energy for operations. The deals support the recently restarted Production Line 2, which reached a nameplate capacity of 95,000 metric tonnes per annum.
*this image is generated using AI for illustrative purposes only.
Statkraft and Alcoa have signed two new power agreements to secure electricity supply for Alcoa's aluminium plant at Lista, Norway. The agreements cover deliveries of approximately 4.8 TWh of electricity during the period 2028–2031, providing a solid and predictable energy foundation for the smelter and supporting continued production and development at the site.
Production Line 2 at Lista recently completed a successful restart of 31,000 metric tonnes per annum, reaching the plant's nameplate capacity of 95,000 metric tonnes. This milestone restored capacity and strengthened Alcoa's industrial presence in Norway. Access to reliable and competitively priced power is essential for maintaining these operations.
"Restarting operations at Lista was an important milestone for us, and access to stable power is absolutely essential for taking the next step," says Tor Arne Berg, Operations Manager at Alcoa Lista.
The agreements underscore the importance of predictable regulatory frameworks and long-term power access for Norwegian industry, particularly for power-intensive sectors like aluminium production. Hallvard Granheim, Executive Vice President Markets at Statkraft, emphasized the company's commitment to supporting regional value creation through competitive power prices and continued cooperation.
"Alcoa is the latest of several large industrial companies to enter into new long-term power agreements with Statkraft this year. The demand confirms that the power market is functioning well and that we deliver competitive terms and power supply in line with industry needs," Granheim adds.
Key Agreement Details
| Detail | Specification |
|---|---|
| Parties | Statkraft and Alcoa |
| Location | Lista, Norway |
| Electricity Volume | 4.8 TWh |
| Delivery Period | 2028–2031 |
| Plant Capacity | 95,000 metric tonnes per annum |
The deals form part of Alcoa's long-term strategy to secure stable power prices on commercial terms for its Norwegian operations. Statkraft, Europe's largest generator of renewable energy, continues to expand its supply contracts and development plans in Southwest Norway (NO2).
How will the expiration of these agreements in 2031 impact Alcoa's long-term operational strategy at Lista?
What measures are Statkraft taking to expand renewable energy capacity in Southwest Norway to meet rising industrial demand?
Could these agreements influence other power-intensive industries to secure similar long-term contracts in the region?
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