Nucor inks 250-MW solar PPA with NextEra

US steel products manufacturer Nucor Corp (NYSE:NUE) said on Monday that it has signed a power purchase agreement (PPA) for 250 MW of solar electricity with a subsidiary of NextEra Energy Resources LLC.

The contract concerns a two-phase solar project in Henderson County, Kentucky, which is expected to have a total capacity of up to 400 MW. Construction works on the first phase of the Sebree Solar project are scheduled to start this autumn.

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Upon commissioning, which is expected in December 2025, Sebree Solar I will bring about USD 20 million (EUR 18.2m) in additional tax revenue to Henderson County over its 30-year lifespan, according to a press release.

Apart from the PPA, Nucor is also providing the steel needed for the realisation of Sebree Solar I as well as for another solar site to be built and operated by NextEra in Meade and Breckinridge counties.

The deal with NextEra marks the second PPA signed by Nucor as part of its sustainability strategy. In 2021, the steel maker agreed a virtual power purchase agreement (VPPA) with Ørsted Onshore North America LLC for electricity from 100 MW of wind capacity in Texas.

(USD 1 = EUR 0.911)