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Octopus Energy, Salzgitter Group partner to slash steel emissions with sun power
Transactions - FEBRUARY 21, 2024

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Octopus Energy, Salzgitter Group partner to slash steel emissions with sun power

by Released

Octopus Energy’s generation arm and Salzgitter Group, one of Germany’s major steel and technology groups, are joining forces to radically decarbonize steel production in Germany using the power of the sun.

The agreement will see Octopus, which manages a €7 billion ($7.6 billion) portfolio of green-energy projects, supply Salzgitter with 126,000 megawatt hours of clean electricity per year from the Schiebsdorf solar farm in Brandenburg.

The deal between the two companies supports Salzgitter’s pioneering low carbon dioxide steelmaking program. This aims to reduce carbon emissions of Germany’s steelmaking sector, currently responsible for about 28 percent of the country’s industrial emissions. This will secure more clean electricity for Salzgitter, giving it certainty over electricity costs while enabling it to produce steel with a minimal carbon footprint.

Salzgitter plans to use an electrolyzer to harness the energy from Octopus’ solar farm to produ

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