Green power for SHS - Stahl Holding Saar: GvW advises SHS on PPA conclusion
GvW Graf von Westphalen has advised SHS - Stahl Holding Saar GmbH & Co. KGaA (SHS) on the conclusion of a long-term power supply agreement (PPA) with the Spanish energy group Iberdrola.
The Saarland-based steel group will purchase electricity with a capacity of around 50 MW from the Baltic Eagle offshore wind farm in the Baltic Sea for 15 years. SHS will thus cover an annual consumption of 200 GWh. The wind farm is scheduled to go into operation at the end of 2024 with a total capacity of 476 MW.
For SHS, this electricity supply contract is an important step towards a sustainable industrial transition: The Group plans to use the green power in the production of low-CO2 steel in the future. Further steps are to follow in order to further reduce CO2 emissions in the steel production of its companies Saarstahl and Dillinger.
Guido Brucker and Toralf Baumann (both Energy Law, Berlin) advised SHS on behalf of GvW Graf von Westphalen in the contract negotiations for the PPA.
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