Hydro named its new renewable energy division “Hydro Rein” and is considering raising funds and listing the company separately.
It comes out A message On the company’s website.
Hydro Rein is an independent company. Norwegian Hydro is considering raising funds and listing the renewable energy company separately.
Hydro Rein will provide renewable energy solutions and assist Hydro and other industrial companies in the energy transition.
-Hilde Merete Aasheim, CEO of Norsk Hydro, stated that as part of Hydro’s strategic direction, we hope to strengthen our position in low-carbon aluminum and explore new growth opportunities. Last year, we established a project called “Renewable Growth” Independent department.
-Now, we have further refined the plan, so we will strengthen the organization and set it up as an independent company, and call it Hydro Rein, Aasheim said.
Hydro will provide more information on the renewable installation program in its first quarter report on April 27.
Recruitment will strengthen the organization before potential fundraising, the company has mentioned before.
Hydro wrote: “will consider increasing capital for the new Renewable Growth Company.” Its capital market day In December.
Hydro has previously separated several companies and these companies have become independent listed companies, including fertilizer manufacturer Yara, which became independent in 2004.
Among other things, Hydro Rein includes investments in batteries as well as solar and wind energy.This week, Norsk Hydro announced that the company is also considering investing Hydrogen production.
Hydro Rein’s goal is to have invested in at least 1 GW of renewable energy projects this year. These projects will mature through partnerships.
Hydro Rein has signed two letters of intent related to the Brazilian project, one for solar energy and wind energy related to the Green Investment Group, and the other for solar energy related to Scatec and Equinor.
The company said it is looking for people with knowledge of project development, technology, legal issues and sustainability.