Thursday 22 February 2024

Octopus Energy’s partnership aims for green steel

Octopus Energy’s partnership aims for green steel

Octopus Energy's generation arm has teamed up with German steel and technology conglomerate Salzgitter Group to cut carbon dioxide emissions in Germany's steel production through solar energy.

Under the collaboration, Octopus Energy Generation will supply Salzgitter with 126,000MWh of electricity annually from the Schiebsdorf solar farm in Brandenburg.

In addition, Salzgitter plans to use solar energy to produce green hydrogen, replacing fossil fuels in the steel production process.

Set to begin later this year once the solar farm is operational, the long term agreement between Octopus Energy and Salzgitter will last for ten years.

This initiative supports Salzgitter's drive to lead low carbon steelmaking, targeting a reduction in carbon emissions from Germany's steel sector, currently responsible for around 28% of the country's industrial emissions.

Octopus Energy plans to invest over €1 billion (£860m) in German clean energy infrastructure by 2027.

Written by

Sumit Bose

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