Alouette Power

Norsk Hydro’s Q3 2025 adjusted EBITDA decreased to NOK 5,996m due to lower alumina prices and a stronger NOK, while free cash flow remained strong at NOK 2.2bn, and net debt reduced to NOK 13.6bn. The company launched a cost reduction program targeting NOK 1bn annual savings from 2026 and secured a power agreement for Alouette through 2045. A Rotterdam court dismissed all 2021 claims against Hydro. They also divested Corvus Energy for USD 30m.