We get industries to net-zero

Tor Ove Horstad, CCO and Head of Norway

Pareto Power & Renewable Energy Conference, January 18 2024

Hydro Rein offers tailored solutions for industrial decarbonization

Industrials represent ~40% of

global emissions…

Scope 1 and 2

Other

10%

Industry

39%

27%

Buildings

24%

Transport

Source: BloombergNEF

  • and face major hurdles on their decarbonization journey

Operating restrictions & reliability concerns

Power markets regulations

Taxonomy & additionality requirements

Sourcing capabilities

Imbalances

Lack of sufficiently reliable data

Price volatility and cost constraints

Hydro Rein's solutions for reducing

industrial emissions

Wind, solar, on-site renewable power

Energy storage and flexibility management

Energy efficiency and optimization

Hydro 2030: Stepping up our ambitions and efforts in renewable power generation

We accelerate the supply of renewable energy solutions to industrial customers

5.3 TWh p.a.1

signed under long-term

Europe

EUR & USD PPAs

4.4bn1

USD contracted

revenues

3

offices in Oslo,

The Hague, and Rio de Janeiro

Brazil

Mendubim

Ventos deSão

Zacarias

Boa Sorte

Stor-Skälsjön

Rein Office

Canada

Hydropower

Onshore Wind

Solar PV

Energy Solutions3

7.4 GW2

gross capacity

in portfolio

~402

total # of renewable projects

in portfolio

~30

total # of sites in scope for Energy Solutions pipeline

Notes: (1) Including Vista Alegre (2) Total portfolio excluding leads and indicative projects, including Irupé (3) Only projects in operationand under construction

Milestone projects under construction - COD 2024

Stor-Skälsjön

Mendubim

Location:

Sundsvall, SE2

Location:

Rio Grande do Norte, Northeast

Plant Capacity:

260 MW

Plant Capacity:

531 MWp

Annual Production:

807 GWh

Annual Production:

1227 GWh

REIN Ownership:

25%

REIN Ownership:

33.3%

COD:

Q1/2024

COD:

Q1/2024

Workers at site:

~100 workers

Workers at site:

~779 workers

Final turbine

blade installation

PV modules installation

Substation view

Ventos de São Zacarias

Boa Sorte

Location:

Piauí, Northeast

Location:

Minas Gerais, Southeast

Plant Capacity:

456 MW

Plant Capacity:

438 MWp

Annual Production:

1957 GWh

Annual Production:

964 GWh

REIN Ownership:

44.9%

REIN Ownership:

30%

COD:

Q4/2024

COD:

Q2/2024

Workers at site:

~1319 workers

Workers at site:

~956 workers

Towers

assembling

Substation view

PV modules installation

Substation view

2023: A groundbreaking partnership with Macquarie Asset Management

1

2

3

4

An industrial giant with a world-leading renewable investor. Established relationship between Macquarie and Hydro since 2017 - partnership in Brazil and developing Nordic PPA-market.

Shared values of driving the green transition and reducing global emissions.​

Taking advantage of complementary expertise: Unique project competencies combined with commercial strength and leading expertise on renewable energy

The transaction values Hydro Rein at USD 333 million, per June 30, demonstrating our rapid growth since 2021

Gearing up in the Nordics: A significant portfolio of renewable projects - 6 TWh gross

Hydro's plants in Norway to cut yearly power

consumption equal to 100 GWh

Snøheia

300 MW

35% share

Årdal

Early phase

M36 & M108

362 MW

50% share

M93A & M98

407 MW

100% share

Stor-Skälsjön

260 MW

25% share

Energeia/Eidsiva/

Hydro Rein

80-160 MW

30% share

Geisli Energi

286 MW

49,9% share

SE3/SE4-portefølje

260 MW

50% share

S140 & S148

118 MW

100% share

Onshore wind

Solar

Energy efficiency

Greener Sweden: Plants switching to locally produced

renewable energy

Uniquely positioned for long-term value creation

1

Become the preferred supplier of renewable energy

solutions to industrial customers in core markets -

key enabler for decarbonization of Hydro

2

Focus on growing in the Nordics and develop in

selected markets in Europe, strong foothold in

Brazil established

3

Safe and sustainable project execution in close

collaboration with partners

4

Drive performance through organizational

excellence and commercial expertise in renewables

markets

Delivering sustainable & attractive

risk adjusted returns

7

2024: Turning point for renewables in Norway

2030 is right around the corner, to succeed we need more faster

Stable and ambitious

Faster permitting, more grid

Sense of urgency, reflecting

Doing things right together

framework conditions for

capacity

European and Nordic neigbors

with our local communities

renewables and industries

8

Most valuable asset and competitive advantage: Our people

75 employees

50/50 gender balance

20 different nationalities

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Disclaimer

Norsk Hydro ASA published this content on 14 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 March 2024 10:10:08 UTC.