CPV Announces Power Purchase Agreement for Hydro's Cressona Operations

Silver Spring, MD, August 26, 2021 — Competitive Power Ventures announced a power purchase agreement (PPA) with Hydro, a leading international aluminum and energy company headquartered in Oslo, Norway, with 27 manufacturing facilities in North America.

Energy from CPV's Maple Hill solar facility will power Hydro's aluminum extrusion facility in Cressona, Pennsylvania, one of the largest of its kind in the world. The company employs about 1,100 workers in Schuylkill County.

Maple Hill, in Portage Township, Pennsylvania, began construction earlier this year and will start providing power to the Hydro Cressona facility in summer of 2022. The 127 MWdc facility will consist of 237,000 solar panels that utilize the latest bi-facial technology and a single-axis tracking system to maximize energy production.

"CPV is pleased to be partnering with an international leader in the aluminum and energy industries, and we look forward to bolstering their renewable energy pipeline," said CPV Executive Vice President Sean Finnerty. "Leveraging Maple Hill — built on a former coal mine — to power a world-leading extrusion facility is a fantastic example of how clean energy can dovetail with responsible economic growth and development."

CPV's PPA with Hydro is the first long term energy contract signed by Hydro in the U.S. The company has a strong focus on sustainability and recently announced plans to invest $48.3 million in Cressona, Pennsylvania, to support the growing transportation, distribution, and industrial market segments in North America.

"Utilizing a renewable energy provider like CPV in the production of our aluminum products is the perfect complement for Hydro's sustainability goals, and we're excited to be the first site in North America to take this step," said Mike Hammer, Senior Director of Operations at Hydro Cressona. "The clean, locally-generated energy from CPV's Maple Hill site makes it an ideal facility to support our investments and world-leading capabilities in Cressona."

About CPV

CPV Group LP (CPV), a subsidiary of OPC Energy Ltd., is uniquely positioned to leverage global technology and financial partnerships to help modernize America's power generation. Together with our investors, partners, host communities and other key stakeholders, we are driven to improve our energy infrastructure by developing and operating power generation facilities using cutting edge, domestically available natural gas and renewable power technologies. Headquartered in Silver Spring, MD, with an office in Braintree, MA, the company has ownership interest in 5.5 GW of clean generation across the United States. The company's Asset Management division currently manages 7.9 GW of fossil and renewable generating facilities in nine states for 11 different owner groups. Our focus on Environmental, Social and Governance (ESG) and sustained track record of success have enabled us to grow into one of North America's premier energy companies. For more information: www.cpv.com and follow CPV on Twitter and LinkedIn.

About Hydro

Hydro is a leading industrial company that builds businesses and partnerships for a more sustainable future. We develop industries that matter to people and society. Since 1905, Hydro has turned natural resources into valuable products for people and businesses, creating a safe and secure workplace for our 30,000 employees in more than 140 locations and 40 countries.

Today, we own and operate various businesses and have investments with a base in sustainable industries. Hydro is present in a broad range of market segments for aluminum, energy, metal recycling, renewables and batteries, offering a unique wealth of knowledge and competence.  Hydro is committed to leading the way towards a more sustainable future, creating more viable societies by developing natural resources into products and solutions in innovative and efficient ways.

Contacts:

Jennifer Villarreal
Director, Corporate Communications
Competitive Power Ventures
(781) 817-8978
jvillarreal@cpv.com

Peter A. Hedman
Director, Marketing & Communications
Hydro
(503) 312-8758
peter.hedman@hydro.com