The parties have formed a joint venture company called Eguzkind, which will build eight photovoltaic solar power plants in Lleida, Tarragona and Barcelona. Their total power is projected to be 43 megawatts.
"The construction of these plants, which will involve an investment of €40 million ($43.8 million), is already under development and will start supplying energy to Sidenor in the last quarter of this year," EVE said. "The operation of the eight photovoltaic solar plants will make it possible to make progress in the decarbonization of the Basque industry and guarantee Sidenor's electricity supply."
The steelmaker will purchase the energy under a long-term contract. "The Eguzkind project is an important step for us to play an active role in renewable energy production while reducing CO2 emissions in our processes and moving towards green steel production," Sidenor explained.