Slovalco is without a power supply contract
Slovalco, Žiar nad Hronom-based aluminum smelter and Slovakia’s largest power consumer, does not have a new long-term contract on power supplies to replace the current 8-year one, which runs out on December 31. It faces the risk of buying power on spot markets next year. Without a long-term contract, preferably a 20-year one, it can’t plan large investments. It is considering €150m projects as well as a major €1.3bn expansion. The company is majority-owned by Norsk Hydro (Penta has a minority stake) and employs 450.
