The 300-megawatt deal will cover half of the electricity requirements of Victoria’s biggest power user, which is looking for renewable energy to cover the rest.
Alcoa’s electricity supply contract with AGL secures its future for another nine years.
The Portland aluminium smelter in Victoria’s south-west was at risk of closure less than three years ago. Alcoa said that at present, about 40 per cent of the power the smelter uses comes from renewable energy sources, including from the nearby Portland wind farm, owned by Pacific Blue. Mr Reed said the US company was pursuing options for the smelter’s remaining electricity requirements from mid-2026, in line with its goal to reach net zero carbon emissions by 2050.
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