Norsk Hydro Allocates NOK 1.2 Billion for Illvatn Pumped Storage Power Plant Construction

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: Nov 14 2025

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Source: Newsfilter

Investment Decision: Hydro has approved a NOK 2.5 billion investment for the Illvatn pumped storage power plant in Norway, marking its largest hydropower project in over 20 years, with construction starting in November and operations expected by 2030.
Renewable Energy Contribution: The new plant will generate 107 GWh of renewable energy annually, supporting Hydro's aluminium production and contributing to Norway's renewable energy goals.
Infrastructure Development: The project includes building a new 13-kilometer power line and 48 aluminium power towers, promoting a sustainable approach to power grid development.
Environmental Commitment: Hydro aims for a net-zero loss of prioritized nature and plans to produce zero carbon aluminium by 2050, emphasizing the importance of increased hydropower production for industrial growth and job security in Norway.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.