Outokumpu secures 10-year renewable power purchase agreement with Gasum
In Finland, gas and renewable power energy company Gasum Oy and global iron and steel major Outokumpu Oyj have entered into a 10-year agreement on the supply of renewable wind power. The wind power supplied under the agreement will cover almost all the power consumption at Outokumpu’s Kemi mine. Supplies under the agreement will start in summer 2023.
It’s great to build on our long-standing cooperation with Outokumpu. Renewable energy wind power has a key role in the transition to a cleaner future. We want to offer our partners the most comprehensive solutions on the energy market to meet their energy needs and to help companies to reach their environmental goals faster, said Tommy Mattila, VP, Industry at Gasum.
Gasum will supply renewable wind power to Outokumpu under a 10-year agreement. The wind power will be generated by Gasum’s partners’ new wind park in Finland. The partnership promotes Gasum’s strategy to provide cleaner energy for industry and heat and power production.
The new agreement allows us to further increase the already high share of low-carbon power in our production. The wind power agreement is a natural continuum to our good cooperation with Gasum. We currently operate the Tornio LNG terminal together and the liquefied natural gas we secure from there has enabled us to replace propane in our production, said Mika Orpana, Energy Director at Outokumpu.
The wind power agreement is a step towards Outokumpu reaching its emissions reduction targets. Increasing the share of low-carbon power is one of the most important ways to reach carbon neutrality by 2050.
Outokumpu is committed to science-based climate goals and to limiting climate warming to 1.5 degrees C. We are pursuing climate neutrality in our own operations by 2050. Low-carbon power already accounts for more than 80 percent of the power used in Outokumpu’s European operations, but it is important for us to increase this share to enable us to reach our ambitious sustainability goals, said Juha Erkkilä, VP, Sustainability, Excellence and Reliability at Outokumpu.
Besides energy market expert services, Gasum provides renewable power, biogas, and natural gas, for industry, maritime, and road transport.