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Statkraft and Alcoa entered into two long-term power agreements to secure electricity for Alcoa’s aluminum plant in Lista, Southern Norway.

The contracts dictate the delivery of around 4.8 TWh of power spanning the years 2028 through 2031. This commercial arrangement establishes predictable energy pricing essential to sustain the factory's power-intensive production.

The energy pact arrives after Production Line 2 restarted 31,000 metric tons of annual capacity, restoring the facility to its full 95,000-ton capacity. Alcoa Lista said that stable, competitively priced electricity is vital for maintaining these expanded operations.

According to Statkraft, the transaction reflects healthy functioning in the power market. This contract forms part of several major industrial supply deals Statkraft secured this year to maintain regional value creation in Southwest Norway.