Nucor Inks Pact with EDFR Towards Supply of Clean Energy

SEATTLE (Scrap Monster): Charlotte, N.C.-headquartered Nucor Corporation announced that it has entered into a 15-year Virtual Power Purchase Agreement (VPPA) with EDF Renewables North America (EDFR) towards supply of clean energy. The agreement, the first of its kind for the entire steel industry, will provide the company with 250 megawatts (MWac) of new solar energy in Texas.

The construction of the solar energy project by EDFR is expected to commence in the summer of 2022. The production of electricity is estimated to begin in 2023. Upon completion, the plant will be capable of producing equivalent of electricity used by nearly 50,000 average Texas homes.

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By supporting the development of the solar energy project, the company has demonstrated its commitment to make its production even cleaner and reduce its overall carbon footprint, commented Leon Topalian, President & Chief Executive Officer of Nucor Corporation. Meantime, Ryan Pfaff, Executive Vice President, Grid-Scale Power at EDF Renewables stated that it is pleased to partner with Nucor and help them with their sustainability initiatives in a cost-effective manner.

Richmond, Virginia-based GreenFront Energy Partners acted as the financial advisor to Nucor on this transaction.