BILBAO (dpa-AFX) - Renewable energy company Iberdrola Deutschland (IBDSF.PK) Tuesday said it signed a long-term power supply agreement (PPA) with the holding and management company for the steel industry in the Saarland, SHS - Stahl Holding Saar GmbH & Co. KGaA.
As per the 15-year PPA, SHS will be provided with 200 GWh energy annually, which is equivalent to some 50 MW offshore wind capacity, to be supplied by Iberdrola's Baltic Eagle offshore wind project being built in the Baltic Sea. Iberdrola said green electricity will be used to produce low-CO2 steel in the Saarland steel industry
'As part of our growth in the strategic German market we are paying particular attention to partnering with energy-intensive companies. In doing so, we are contributing to the sustainable transformation of the economy,' said Felipe Montero, CEO of Iberdrola Germany.
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