Finnish steel company signs 10-year supply agreement

Finland-based stainless steel company Outokumpu has signed a 10-year renewable wind power supply agreement with Swiss power producer Alpiq.

According to the agreement, the contracted amount of wind energy will account for more than 60% of the electricity consumption at Outokumpu's production facilities in Germany. Delivery will begin in January 2023.

Outokumpu said it is advancing low-carbon energy. The share of low-carbon electricity in the company's European business exceeded 80%.

Outokumpu previously announced two more 10-year wind energy deals. These agreements supported Outokumpu's goal of keeping global warming below 1.5°C.