Our businesses in energy
Hydro Energy has more than 100 years of experience in production of renewable energy. Today, we are one of the three largest operators of hydropower production in Norway and a large power market player in the Nordic region and Brazil. We are responsible for developing new business opportunities for Hydro within renewable energy, hydrogen and batteries, and we provide support to the rest of Hydro’s business areas on contracts, security of supply and energy framework conditions.
Energy business areas
Hydro Energy has more than 100 years of experience in renewable energy production. We are one of Norway’s three largest operators of hydropower production and a large power market player in the Nordics and Brazil. We develop new business opportunities for Hydro in renewable energy, green hydrogen and batteries, and we provide support to other Hydro businesses on contracts, security of supply and energy framework conditions.
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Hydro Energy is a major renewables producer, market operator and developer of businesses for the energy transition.
Energy fully owned companies
It is estimated that industrial companies are responsible for almost 40% of global greenhouse gas emissions. To reach the goals of the Paris Agreement, these emissions must be reduced rapidly and significantly.
Hydro REIN aims to help industrial companies succeed with the energy transition by facilitating access to affordable renewable power, sourced from its portfolio of hydro, solar and wind projects in Brazil and the Nordics. Hydro REIN also provides industrial-scale, behind-the-meter solutions to improve energy efficiency, reduce emissions and cut costs.
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Hydro REIN is a one-stop energy partner with the aim to help industrial companies succeed with the energy transition.
By offering clean hydrogen, which does not emit CO2 when used, we can help industrial companies succeed in their energy transition.
We need to move away from fossil fuels, and green hydrogen is key to making that happen. The core of our business is using green hydrogen based on renewable energy to replace fossil fuels across a range of sectors. This includes many heavy industries where a part of the production process often requires temperatures far higher than what electricity can produce, as well as the maritime sector and long-distance transport. Together, these three sectors make up almost 30% of global CO2 emissions and we have the opportunity to change that by getting them to switch to green hydrogen. We will develop, operate and own green hydrogen facilities, and provide our industry and energy expertise to customers to provide the solutions they need to make the fuel switch and transition to renewable energy.
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Hydrogen will play a key role in the global transition to carbon neutrality. Hydro sees a substantial potential for industrial hydrogen consumption which will help reduce CO2 emissions.
Energy joint ventures
The world needs sustainable battery production, which means that we need a plan for what to do with them at end-of life. As the first generations of electrical cars are now reaching their end-of-life, there is urgent need to be ready to recycle both the cars and their batteries.
Hydrovolt, a joint venture between Hydro and Northvolt, is building Europe’s largest electric car battery recycling facility in Fredrikstad, Norway. The recycling plant will be powered by 100% renewable energy. Once the plant is operational in Q1 2022, Hydrovolt will be able to recycle the entire Norwegian volumes, and we will also collect batteries from Sweden and other parts of Europe. We also plan to recycle other types of batteries, including from electric ferries and other ships.
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Hydrovolt is now building Europe’s largest car battery recycling plant, laying the foundation for a circular supply chain for electric car batteries in Europe.