Alcoa announces wind power purchase agreement to support future restart of San Ciprián smelter in Spain
Alcoa Corporation (AA)
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Source: Business Wire
PITTSBURGH--(BUSINESS WIRE)--Alcoa Corporation (NYSE: AA) today announced an additional power purchase agreement to support the future restart of the San Ciprián aluminum smelter in Spain.This latest agreement is with Endesa, a leading company in the Spanish electricity sector that is a subsidiary of the Enel Group. The agreement will provide power balancing services for the smelter load from 2024 to at least 2030.Balancing services provide electricity to the smelter’s consumption point, either from baseload volumes from a power purchase agreement with Endesa, via other third-party agreements, or from the market directly.The agreement with Endesa would include up to 131 megawatts beginning in the second half of 2025 and through 2033, representing slightly more than 30 percent of the smelter’s energy requirements at maximum capacity. The final volume and start of the baseload power deliveries can be adapted as the process to develop windfarms evolves. The pricing terms are confiden
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