ALCOA of Australia has signed new base-load electricity contracts with Loy Yang Power to power its Point Henry and Portland aluminium smelters to 2036.
According to Alcoa, the energy security provided by these contracts will ensure the aluminium smelters continue running and provide jobs.
The contracts take effect in 2014 for the Point Henry (Geelong) smelter and in 2016 for the Portland facility.
The contracts are for approximately 820MW of load and, with future expansion options, could represent more than half of Loy Yang Power’s generation output.
As part of the new contracts, the Alcoa and Loy Yang Power have signed a carbon reduction agreement which will see a joint approach to reducing greenhouse gas emissions.
Alcoa is Victoria’s largest exporter. The Point Henry Smelter has a rated capacity of 190,000mtpy. The Portland smelter has a rated capacity of 358,000mtpy.
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