Iberdrola Germany and SHS – Stahl Holding Saar GmbH & Co. KGaA have concluded a long-term power purchase agreement (PPA). The cooperation between the two companies is set for 15 years and covers an annual consumption of 200 GWh.
The green electricity is equivalent to an offshore capacity of about 50 MW and will be supplied from Iberdrola Germany’s new Baltic Eagle offshore wind farm in the Baltic Sea. This will enable SHS to sustainably transform the business activities of its Saarstahl and Dillinger companies and reduce its own future carbon emissions during steel production. This latest PPA is to be followed by others in the coming years.
With the signed PPA, Iberdrola and SHS are undergirding their respective strategies to actively advance the energy transition in Germany. Other opportunities for collaboration will be explored in addition to this long-term PPA partnership, including in the area of renewable energy plant development and green hydrogen production.
The Baltic Eagle offshore wind farm is the second of three large-scale Iberdrola projects in Germany, in addition to the Wikinger and Windanker wind farms. Baltic Eagle will be commissioned at the end of 2024 with a total capacity of 476 megawatts. This is equivalent to the power needed to supply 475,000 private households and will save 800,000 tons of CO2 per year.
Iberdrola is the Europe’s largest utility by market capitalization and one of the world’s three largest energy companies.
SHS – Stahl-Holding-Saar GmbH & Co. is an operational management holding company that actively performs tasks for the two major steel companies in Saarland, Dillinger and Saarstahl.
