NextEra signs PPA with steelmaker for full output from new Texas wind farm
NextEra signs PPA with steelmaker for full output from new Texas wind farm | Windpower Monthly
NextEra Energy Resources has signed a power purchase agreement (PPA) to supply all the power from a new wind farm in Texas to steelmaker Steel Dynamics.
The electricity will come from the new 308MW Canyon Wind project, which is currently in development in Scurry County.
Steel Dynamics, one of the largest producers of carbon steel in the US, said the wind farm will produce 1.1TWh of electricity annually, meeting 16% of its steel mills’ power demand (2022 figure).
The deal, the largest renewable energy agreement signed in the North American steel industry, would help the company meet its 2025 goal of 10% renewable electricity and move toward its 2030 goal of 30%
“This investment represents a significant step forward on our path to carbon neutrality. The steel industry is vital to a healthy manufacturing base and sustainable infrastructure, and we produce the steel required for a sustainable future,” said Steel Dyanmics chairman and CEO Mark D Millett.
The Canyon Wind project was originally developed by Tri-Global Energy, which sold the project to alternative investment firm Silverpeak in 2019.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.