Steel Dynamics Inks Renewable Energy Pact With NextEra
By Colin Kellaher
Steel Dynamics is teaming up with a unit of NextEra Energy on a renewable-product-purchase agreement aimed at advancing the steelmaker's decarbonization goals.
Steel Dynamics, based in Fort Wayne, Ind., on Monday said it would buy 308 megawatts of energy to be produced by a new NextEra Energy Resources wind farm project in Scurry County, Texas.
Steel Dynamics said the project, slated to be operational by the end of 2024, is expected to produce about 1.1 million megawatt-hours of electricity a year, equivalent to 16% of the company's steel mills' electricity usage in 2022.
Steel Dynamics said the agreement is the largest of its kind for the steel industry in North America and will help the company surpass its 2025 goal of 10% renewable electricity and advance it toward its 2030 goal of 30%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
July 31, 2023 12:00 ET (16:00 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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