Alcoa Entered Into Landmark Power Deal at Portland Aluminum Smelter

SEATTLE (Scrap Monster): Pittsburgh-based Alcoa Corporation announced new agreements to ensure repowering for the Portland Aluminium Smelter in the Australian state of Victoria. The company entered into five-year agreements with AGL, Alinta Energy and Origin, which will commence on 1st August, 2021. It must be noted that the existing agreement with AGL expires in end-July this year.

The Australian Federal Government has committed to provide up to $14.8 million per annum for a period of four years to underwrite the smelter’s participation in the Reliability and Emergency Reserve Trader (RERT) scheme. Also, the Victorian Government has agreed in principle to a funding package to match the Federal Government contribution.

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Currently, over 30% of the smelter’s consumed electricity is derived from renewable sources. This figure is expected to grow further. Alcoa aims to attain the goal of 50% renewables by 2030.

Roy Harvey, President and CEO, Alcoa noted that the energy agreements will help to improve the smelter’s competitiveness. The agreements will underscore the smelter’s importance to the economy and the vital role it plays in securing Victoria’s electricity grid. He thanked employees and contractors for their continued dedication and commitment.