A special steel mill in central Switzerland will be powered solely by green electricity thanks to a purchase Swiss Steel Group will make from renewable energy generator Axpo Holding AG of hydropower.
According to the two firms, the power will be provided to the Steeltec factory in the canton of Lucerne's Emmenbruecke hamlet under a power purchase agreement (PPA) that lasts until 2024.
The power will originate from Swiss hydropower facilities owned by Axpo.
The steel mill emits 63 kg of carbon dioxide to manufacture one ton of crude steel compared to the industry average of 1,890 kg of greenhouse gas emissions, which will be further reduced by switching completely to hydropower.
The deal with Axpo will provide Swiss Steel Group with certainty for long-term planning about electricity prices in addition to assisting its sustainability initiatives.
The Lucerne-based steel producer noted that all of the steel produced at its Canadian steel mill and in Dusseldorf, Germany, uses green energy.
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