Norsk Hydro: Hydro invests NOK 1.65 billion to supply Europe’s electric infrastructure with low-carbon aluminium
Norsk Hydro (NHYDY) announces a NOK 1.65 billion investment to construct a new wire rod casthouse at its Karmøy, Norway aluminium smelter. The facility, scheduled to begin operations in Q1 2028, will have an annual capacity of 110,000 tonnes and produce aluminium wire for European power cables.
This marks Hydro's largest Norwegian investment in a decade, aimed at supporting Europe's energy infrastructure development. The project will enhance the company's ability to supply low-carbon aluminium solutions, with Norway currently providing 40% of Europe's aluminium production.
Despite generally weaker market conditions in 2024, Hydro reports increased sales of low-carbon and recycled aluminium compared to 2023 and 2022. The investment is part of Hydro's annual NOK 15 billion investment plan, with the final build decision expected in Q4 2025.
Norsk Hydro (NHYDY) annuncia un
Questo rappresenta il più grande investimento di Hydro in Norvegia negli ultimi dieci anni, volto a supportare lo sviluppo delle infrastrutture energetiche in Europa. Il progetto migliorerà la capacità dell'azienda di fornire soluzioni in alluminio a basse emissioni di carbonio, con la Norvegia che attualmente fornisce il 40% della produzione di alluminio in Europa.
Nonostante le condizioni di mercato generalmente più deboli nel 2024, Hydro riporta un aumento delle vendite di alluminio a basse emissioni di carbonio e riciclato rispetto al 2023 e al 2022. L'investimento fa parte del piano annuale di investimento di Hydro di 15 miliardi di NOK, con la decisione finale di costruzione prevista per il quarto trimestre del 2025.
Norsk Hydro (NHYDY) anuncia una inversión de 1.65 mil millones de NOK para construir una nueva fundición de varillas de aluminio en su planta de aluminio en Karmøy, Noruega. La instalación, que comenzará a operar en el primer trimestre de 2028, tendrá una capacidad anual de 110,000 toneladas y producirá alambre de aluminio para cables eléctricos europeos.
Esto marca la mayor inversión de Hydro en Noruega en una década, destinada a apoyar el desarrollo de la infraestructura energética de Europa. El proyecto mejorará la capacidad de la empresa para suministrar soluciones de aluminio de bajo carbono, siendo Noruega actualmente responsable del 40% de la producción de aluminio en Europa.
A pesar de las condiciones de mercado generalmente más débiles en 2024, Hydro informa un aumento en las ventas de aluminio de bajo carbono y reciclado en comparación con 2023 y 2022. La inversión es parte del plan de inversión anual de Hydro de 15 mil millones de NOK, con la decisión final de construcción esperada para el cuarto trimestre de 2025.
노르스크 하이드로 (NHYDY)는 노르웨이 카르모이의 알루미늄 제련소에 새로운 와이어 로드 캐스팅 하우스를 건설하기 위해 16억 5천만 NOK의 투자를 발표했습니다. 이 시설은 2028년 1분기에 운영을 시작할 예정이며, 연간 11만 톤의 생산 능력을 갖추고 유럽 전력 케이블용 알루미늄 와이어를 생산할 것입니다.
이는 하이드로의 지난 10년간 가장 큰 노르웨이 투자로, 유럽의 에너지 인프라 개발을 지원하기 위한 것입니다. 이 프로젝트는 회사의 저탄소 알루미늄 솔루션 공급 능력을 향상시킬 것이며, 현재 노르웨이는 유럽 알루미늄 생산의 40%를 차지하고 있습니다.
2024년 일반적으로 약세인 시장 상황에도 불구하고, 하이드는 2023년 및 2022년 대비 저탄소 및 재활용 알루미늄 판매가 증가했다고 보고합니다. 이 투자는 하이드로의 연간 150억 NOK 투자 계획의 일환이며, 최종 건설 결정은 2025년 4분기에 예상됩니다.
Norsk Hydro (NHYDY) annonce un investissement de 1,65 milliard de NOK pour construire une nouvelle fonderie de fil d'aluminium à son usine d'aluminium de Karmøy, en Norvège. L'installation, qui devrait commencer ses opérations au premier trimestre 2028, aura une capacité annuelle de 110 000 tonnes et produira du fil d'aluminium pour les câbles électriques européens.
Ceci marque le plus grand investissement de Hydro en Norvège depuis une décennie, visant à soutenir le développement des infrastructures énergétiques en Europe. Le projet améliorera la capacité de l'entreprise à fournir des solutions en aluminium à faibles émissions de carbone, la Norvège représentant actuellement 40 % de la production d'aluminium en Europe.
Malgré des conditions de marché généralement plus faibles en 2024, Hydro rapporte une augmentation des ventes d'aluminium à faibles émissions de carbone et recyclé par rapport à 2023 et 2022. L'investissement fait partie du plan d'investissement annuel de Hydro de 15 milliards de NOK, la décision finale de construction étant attendue au quatrième trimestre 2025.
Norsk Hydro (NHYDY) kündigt eine Investition von 1,65 Milliarden NOK zur Errichtung eines neuen Drahtwalzwerks in seinem Aluminiumwerk in Karmøy, Norwegen, an. Die Anlage, die im ersten Quartal 2028 in Betrieb genommen werden soll, wird eine jährliche Kapazität von 110.000 Tonnen haben und Aluminiumdraht für europäische Stromkabel produzieren.
Dies stellt die größte Investition von Hydro in Norwegen seit einem Jahrzehnt dar, die darauf abzielt, die Entwicklung der Energieinfrastruktur Europas zu unterstützen. Das Projekt wird die Fähigkeit des Unternehmens verbessern, Lösungen aus kohlenstoffarmem Aluminium anzubieten, wobei Norwegen derzeit 40% der Aluminiumproduktion in Europa bereitstellt.
Trotz allgemein schwächerer Marktbedingungen im Jahr 2024 berichtet Hydro von einem Anstieg der Verkäufe von kohlenstoffarmem und recyceltem Aluminium im Vergleich zu 2023 und 2022. Die Investition ist Teil des jährlichen Investitionsplans von Hydro über 15 Milliarden NOK, wobei die endgültige Bauentscheidung für das vierte Quartal 2025 erwartet wird.
- Major NOK 1.65 billion investment in production capacity expansion
- Strong sales growth in low-carbon and recycled aluminium despite market weakness
- Strategic positioning in growing European energy infrastructure market
- Product portfolio diversification to address market volatility
- Final build decision pending until Q4 2025
- Current weak market conditions and reduced aluminium demand
- Challenging automotive and building systems markets
Aluminium and renewable energy company Hydro is investing in building a new wire rod casthouse at its aluminium smelter in Karmøy, Norway. The new facility will supply aluminium for use in critical energy infrastructure in Europe and is expected to start production in 2028.
“This investment will expand the capacity of wire rod to supply our customers with low-carbon solutions needed to develop and expand Europe's most critical infrastructure. This demonstrates that a productive aluminium industry has good growth opportunities in Norway,” says Eivind Kallevik, President and CEO of Hydro.
The wire rod casthouse in Karmøy will have a capacity of 110,000 tonnes per year. Completion of the casthouse is scheduled for the first quarter of 2028 and is Hydro's largest investment in Norway in ten years.
The new casthouse will produce aluminium wire for power cables in Europe. Aluminium is defined by the EU as a critical material. Norway currently accounts for 40 percent of the aluminium produced in Europe.
“Europe's energy transition is about one thing, more renewable power production, and the power produced must be transported over long distances. Aluminium is crucial for transporting electricity to where it is needed. By expanding the capacity to deliver low-carbon aluminium from Norway to the EU, we help ensure that the infrastructure, the very backbone of the future energy system, supports both Europe's security and climate policy goals," says Kallevik.
Increased demand for low-carbon aluminium
While a turbulent global landscape and lower industrial activity has reduced aluminium demand over the past year, Hydro has sold more low-carbon aluminium in recent years. In the energy transition, properties such as weight, durability and recyclability give aluminium a competitive advantage. An aluminium conductor with the same electrical conductivity as a copper conductor weighs approximately 50 percent less, or half the weight, of a copper conductor.
“We see in our own sales figures an increasing awareness in the market that future renewable energy must be transported with renewable materials. Despite generally weaker demand in 2024, Hydro sold more low-carbon and recycled aluminium last year than in both 2023 and our record year in 2022,” says Kallevik.
The new casthouse will contribute to increased product flexibility in a volatile aluminium market, where the markets for automotive and building systems are particularly challenging. With a new wire rod casthouse, Hydro can produce more aluminium wire for a rapidly growing market.
“Europe's transition from imported fossil energy to domestically produced renewable power opens an exciting market when the infrastructure behind the electrification wave is to be built. Our ambition is for Hydro to play a key role as a stable, reliable supplier of the aluminium solutions Europe needs to succeed,” says Kallevik.
The project is pending final build decision which will be made in the fourth quarter of 2025. The investment is included in Hydro’s annual investment plans of approximately NOK 15 billion.
Investor contact:
Elitsa Blessi
+47 91775472
Elitsa.Blessi@hydro.com
Media contact:
Anders Vindegg
+47 93864271
Anders.Vindegg@hydro.com
FAQ
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