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.