Hydro to invest NOK 1.2 billion in new Norwegian pumped storage power plant
Views : 43
Update time : 2025-11-17 15:44:55
Norwegian aluminum producer Hydro has made a final investment decision to build the Illvatn pumped storage power plant in Norway, representing its largest hydropower development in over two decades. The net investment after tax is estimated at NOK 1.2 billion.
Construction in Luster Municipality begins this November, with operations scheduled to start in 2030. The facility will generate 107 GWh of new annual renewable power, dedicated to Hydro’s aluminum production.
The plant will increase reservoir capacity and energy production, particularly in winter, by pumping water to the Illvatn reservoir. Hydro will also build a new 13-kilometer power line with 48 aluminum-made power towers, setting a new standard for sustainable grid development while securing energy for its industry.
