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Swiss Steel Group drives forward ‘green transformation’

Posted on 04 Jun 2024. Edited by: Tony Miles. Read 471 times.
Swiss Steel Group drives forward ‘green transformation’Swiss Steel Group, one of the largest producers of electrical steel in Europe, has announced its participation in a renewable energy consortium, the ‘Initiative EE-Industrie’, which consists of 19 SMEs in Germany, that aim to build, operate and utilise wind and photovoltaic plants with the goal of becoming self-sufficient in the generation of ‘green’ electricity.

Based on initial forecasts, the consortium will require a total output of 220MW of wind power and 80MW of photovoltaics. These figures correspond to around 35-40 modern wind turbines and a ground-mounted PV system of 960,000m2. The importance of a stable and competitive electricity price from sustainable sources for the steel industry cannot be over-stated especially with electric arc furnaces. Swiss Steel Group is a leader in this field and the availability of affordable green electricity is of crucial importance in underpinning the company’s wider decarbonisation efforts.

Swiss Steel Group CEO Frank Koch explained: “As a steel manufacturer utilising electric arc furnaces, we are aware of the urgency to diversify our energy sources in order to further reduce our carbon footprint. This initiative firmly believes that a collaborative approach offers the most promising opportunity to secure much-needed quantities of low CO2 energy, leveraging bundling effects and optimising the cost of ‘green’ power generation.”

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Pioneering initiative

As a first step, the companies involved have commissioned the development of a practicable and legally compliant concept and to determine the economic framework conditions. At the same time, the participants in this pioneering initiative are urging politicians to support competitive green electricity.

Mr Koch added: “We are excited by the opportunity to become not only consumers but also producers of green energy. The transformation to carbon-neutral processes is crucial for the steel industry and stable energy prices play a central role in this. As a company that is one of the leading European green steel producers, we see it as our responsibility to continue to actively contribute to decarbonisation and expand our role as a pioneer. But to do this, we need a competitive overall price for green electricity.

“We hope that our joint efforts with the ‘Initiative EE-Industrie’ will not only drive forward our own green transformation, but also set an example and inspire other companies to also embark on such a path.”

As this year’s winner of the German Sustainability Award, Swiss Steel Group is determined to further expand its role as a pioneer in sustainable steel production and to make an additional contribution to achieving climate targets through innovative solutions and partnerships.