Hydro, Lyse set up JV to secure renewable power supply

Hydro has signed a deal with Lyse to merge part of their hydropower production to create a stronger presence in the renewable energy sector to secure long-term supply for its aluminium operations, the former said on Wednesday October 21.

The aluminium producer and energy and telecommunications group will merge their power production assets in the south-western region of their native Norway through the establishment of a new company. This will include Hydro’s hydropower assets Røldal-Suldal Kraft (RSK) and the majority of Lyse’s power production portfolio.
The new company will be called Lyse Kraft DA and have a normal annual power production capacity of 9.5TWh, of which Hydro will own 25.6% and Lyse, 74.4%

In an investor call on Wednesday morning, Hydro president...

Published

Alice Mason

October 21, 2020

09:25 GMT

London