Commercial, Wind - August 1, 2023
Steel Dynamics Adds Wind Energy
Steel Dynamics, Inc. announced that it has signed a Renewable Product Purchase Agreement (RPPA) for 308 megawatts of energy to be produced by a new wind farm project in Scurry County, Texas.
The RPPA was signed with a subsidiary of NextEra Energy Resources and marks significant progress toward the company’s decarbonization goals.
The wind farm project is expected to produce approximately 1.1 million MWh of electricity annually. This is equivalent to 16% of the company’s steel mills’ electricity usage in 2022, surpassing the company’s 2025 goal of 10% renewable electricity and moving toward its 2030 goal of 30%.
The power from the wind farm is expected to meaningfully contribute to the company’s long-term reduction of Scope 2 GHG emissions intensity.
“As one of North America’s largest steel producers and its largest metals recycler, we are excited to be collaborating with NextEra Energy Resources, the world’s largest generator of renewable energy from the wind and sun, to place new renewable energy onto the ERCOT power grid,” said Mark D. Millett, Chairman and Chief Executive Officer of Steel Dynamics, in a statement. “With our electric arc furnace steelmaking, North American recycling business, and circular manufacturing model, Steel Dynamics is already a leader in the production of lower-carbon steel products. Our steel mills’ greenhouse gas emissions are among the lowest in the industry globally.”
The new wind energy center will be developed, owned and operated by a subsidiary of NextEra Energy Resources and is expected to be operational by the end of 2024.