Statkraft AS (XS277979233.MU) announced Thursday the signing of two new power agreements with Alcoa Corp. (AA) to secure electricity supply for Alcoa's aluminium plant at Lista in southern Norway.
The agreements cover deliveries of approximately 4.8 terawatt-hours of electricity during the 2028 to 2031 period.
The companies said the agreements are expected to provide a predictable energy supply to support continued operations, production and future development at the Lista smelter.
Alcoa recently completed the restart of 31,000 metric tonnes per year of capacity at Production Line 2, bringing the plant to its nameplate capacity of 95,000 metric tonnes annually.
The agreements form part of Alcoa's long-term strategy to secure stable power prices on commercial terms for its operations in Norway.
Alcoa closed trading 1.81% lesser at $61.73 on the New York Stock Exchange. In the overnight, the stock traded 1.38% higher at $62.58.
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