Voestalpine to source power for green steel from 29.7-MW wind park

Austrian technology group Voestalpine (VIE:VOE) will purchase electricity from a 29.7-MW wind park in the province of Styria to use it for the production of green steel.

The Stanglalm wind park, which was inaugurated on September 9, consists of nine Vestas V 126 wind turbines and is able to produce 89 GWh of power annually, which is equivalent to the consumption of 25,500 households, Austrian wind energy association IG Windkraft said on Thursday.

The EUR-45-million (USD 47.96m) facility became operational at the end of 2022.

Voestalpine aims to achieve carbon neutrality by 2050. In a first step, the company will switch to electric arc furnace technology from blast furnace, which is expected to result in a 30% reduction in carbon dioxide emissions by 2027.

According to earlier statements, Voestalpine plans to invest EUR 1.5 billion in the conversion of its steel production sites in Linz and Donawitz, Austria.

The company announced on Wednesday the launch of the necessary construction works in Donawitz at a groundbreaking ceremony. Voestalpine's strategy also involves the installation of photovoltaic systems to expand own renewable energy generation capacities. In addition, wind turbines and hydraulic power generators will be developed together with regional partners.

(EUR 1 = USD 1.066)

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