Alcoa Corporation (AA) on Wednesday announced two strategic developments for its Massena Operations in New York.
The company has signed a 10-year energy contract with the New York Power Authority (NYPA), providing 240 megawatts of competitively priced renewable energy starting April 1, 2026, with the option to extend for two additional five-year terms.
In addition, Alcoa is investing approximately $60 million through 2028 to rebuild and modernize the smelter's anode baking furnace, which produces the carbon anodes required for the aluminum smelting process. This investment is supported by the new energy contract and a $6 million grant from Empire State Development (ESD).
The Massena Operations has an annual nameplate capacity of 130,000 metric tons and is the world's longest continuously operating aluminum smelter, with production dating back to 1902.
Alcoa shares were 0.67% up in pre-market trading at $37.49.
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