Century (CENX) Extends Power Contract for Grundartangi Smelter Zacks.com 3 hrs ago
Century Aluminum Company CENX has announced an agreement between Nordural Grundartangi ehf, its fully-owned subsidiary, and Landsvirkjun, the National Power Company in Iceland, to extend its existing 161-MW power contract by three years through 2026.
Per the terms, the extension will increase to 182 MW over time to make way for flexibility that is necessary to support the latest capacity creep requirements and growth opportunities in the future, thereby enabling the plant to create value-added products.
Century has acknowledged the efforts of the Landsvirkjun team on finalizing the agreement and noted that the partnership will cater to the rising power needs of Grundartangi brought by the recent capacity creep and also future growth prospects at the smelter.