Alumina Limited (ASX: AWC) has unveiled a fresh accord with AGL Energy Limited, set to bolster operations at Victoria's Portland Aluminium Smelter. This nine-year arrangement, commencing from July 1, 2026, covers 300 megawatts of power supply, accounting for about 50% of the smelter's energy needs for its 358,000-tonne annual aluminium production. The smelter's significance extends to the economy, generating over AU$68 million in direct wages and benefits, plus AU$179 million in local contracts during 2022.
It contributes around 20% of Australia's aluminium output and plays a vital role in supporting the electricity network's stability amid increasing renewable integration. Notably, 40% of its electricity comes from nearby renewable sources, including the Portland wind farm. Alumina Limited is diligently exploring renewable options to fulfill the remaining electricity needs post-mid-2026, aligning with its net-zero carbon emissions target by 2050. Portland Aluminium functions as an unincorporated collaborative enterprise involving the entities Alumina Limited, Alcoa of Australia Limited, CITIC Nominees Pty Ltd, and Marubeni Aluminium Australia Pty Ltd.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
