Sweden-based H2 Green Steel has announced that it has signed an agreement with Finland-based energy company Fortum to purchase carbon-free electricity on both short and long-term bases for its green steel operations in Boden, Sweden.
According to the statement, significant volumes of electricity are needed to power the 700-800MW electrolyzer that will generate green hydrogen, which in turn will reduce iron ore to sponge iron that will feed steel production at the Boden plant.
The Boden plant will initially produce an annual volume of 2.5 million mt of green steel starting from 2025. In the second phase, the company will ramp up production to about 5 million mt.
