Mexican steelmaker Gerdau Corsa and Engie Mexico have signed a 15-year electricity supply contract, local media El Financiero said.
The Mexican subsidiary of Brazilian integrated steelmaker Gerdau will buy 100 percent of the electricity Engie Mexico generates out of its Sonora state solar plant. Engie’s solar-generated electricity will power Gerdau’s Tultitlan mini-mill located in Mexico City. Gerdau bought the plant, which produces rebar and profiles, for $259 million in March 2007.
Engie Mexico invested $111 million to build the solar complex, the media report said.