Alcoa Reinforces Norwegian Aluminium Production with Long-Term Power Agreements from Statkraft

Alcoa Reinforces Norwegian Aluminium Production with Long-Term Power Agreements from Statkraft

(IN BRIEF) Statkraft and Alcoa have signed two new power agreements to secure electricity supply for Alcoa’s aluminium plant at Lista in Southern Norway. The agreements cover approximately 4.8 TWh of electricity for the period 2028 to 2031 and are intended to provide stable and predictable power for continued operation and development of the smelter. The deal follows the successful restart of Production Line 2 at Lista, adding 31,000 metric tonnes per year and bringing the plant to its nameplate capacity of 95,000 metric tonnes annually. Alcoa said stable power access is essential for the next phase of the plant’s development, while Statkraft said the agreement supports regional value creation and reflects continued demand from large industrial companies for long-term power agreements. The agreements also underline the importance of reliable, competitively priced electricity and predictable regulatory conditions for power-intensive industries such as aluminium production in Norway.

(PRESS RELEASE) OSLO/LISTA, 19-Jun-2026 — /EuropaWire/ — Statkraft and Alcoa have signed two new power agreements that will secure electricity supply for Alcoa’s aluminium plant in Lista, Southern Norway, supporting continued production and future development at the site.

The agreements cover the delivery of approximately 4.8 TWh of electricity between 2028 and 2031. They are designed to provide Alcoa’s Lista smelter with a stable and predictable power foundation, which is particularly important for energy-intensive industrial operations such as aluminium production.

The new agreements follow a key operational milestone at the Lista plant. Production Line 2 recently completed a successful restart of 31,000 metric tonnes per year, bringing the plant to its nameplate capacity of 95,000 metric tonnes per year. The restart strengthened Alcoa’s industrial presence in Norway and restored important production capacity at the site.

Tor Arne Berg, Operations Manager at Alcoa Lista, said restarting operations at Lista was an important milestone for the company. He said access to stable power is essential for taking the next step in the plant’s continued development.

The agreements also highlight the importance of long-term power access and predictable regulatory frameworks for Norwegian industry. For power-intensive sectors such as aluminium, reliable and competitively priced electricity remains central to maintaining operations, supporting investment and preserving industrial activity.

Hallvard Granheim, Executive Vice President Markets at Statkraft, said the company is pleased to contribute predictable and competitive power prices for Alcoa at Lista and to continue the strong cooperation between the two companies. He said Statkraft sees it as important to support continued activity and value creation in the region through this agreement, as well as through other supply contracts and development plans in Southwest Norway.

Granheim added that Alcoa is the latest of several large industrial companies to enter into new long-term power agreements with Statkraft this year. He said the demand demonstrates that the power market is functioning well and that Statkraft is able to provide competitive terms and power supply aligned with the needs of industry.

For Alcoa, the agreements form part of its long-term approach to securing stable power prices on commercial terms for its Norwegian operations. The deal provides greater certainty for the Lista plant as it continues production following the restart of its second production line.

Through the new power agreements, Statkraft and Alcoa are reinforcing the connection between renewable energy supply, industrial competitiveness and long-term value creation in Norway’s aluminium sector.

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Statkraft is a leading company in hydropower internationally and Europe’s largest generator of renewable energy. The Group produces hydropower, wind power, solar power, and gas-fired power. Statkraft is a global company in energy market operations. Statkraft has around 6,200 employees in 20 countries.

Media Contact:

Lars Magnus Günther
Corporate media relations lead
Telephone: +47 912 41 636
E-mail: larsmagnus.gunther@statkraft.com

SOURCE: Statkraft