HomeNewsH2 Green Steel has entered into a long-term frame agreement with Fortum for electricity supply

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H2 Green Steel has entered into a long-term frame agreement with Fortum for electricity supply

3/30/2023

H2 Green Steel and Fortum have signed a frame agreement for electricity trading for the supply of CO2-free electricity for H2 Green Steel’s operations in Northern Sweden. The two companies have formed a partnership that enables H2 Green Steel to purchase Fortum's carbon-free electricity on both short and long-term bases for its green steel operations in Northern Sweden. The parties will strengthen the cooperation further in long-term Power Purchase Agreements (PPAs). The frame agreement is initially planned to include two deals for 2.3 TWh per year: an index-based PPA of 1.3 TWh annually (from 2026) with a five-year hedging horizon, and a fixed price PPA of 1 TWh for up to nine years (from

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