The steelmaker Ternium, the main producer of flat steel products in Argentina, announced investments of $160 million for the construction of a wind powered energy plant in Olavarria, located in the Buenos Aires province.
The project will have a 72 megawatts capacity, sufficient to replace with renewable energy around 65 percent of the energy that Ternium acquires from third parties in the national grid.
According to Maximo Vedoya, Ternium’s CEO, increasing the participation of renewable energy is an important part of Ternium’s decarbonization plan, to support a sustainable operation and a low-carbon economy.
The construction of the new plant will start during the second quarter of 2023, with start of operation expected for the second half of 2024.
The decarbonization plan of Ternium, announced in 2021, aims at reducing carbon dioxide emissions by 20 percent until 2030.