Steel Products
SDI to Collaborate on Wind Farm Project
Written by Becca Moczygemba
August 1, 2023
Steel Dynamics, Inc. (SDI) has entered into a new partnership with a subsidiary of NextEra Energy Resources, LLC to produce 308 megawatts of energy from a wind farm project in Texas.
The Fort Wayne, Ind.–based steelmaker said in a July 31 press release that the renewable product purchase agreement is the largest of its kind for the steel industry in North America.
The company anticipates the wind farm to produce approximately 1.1 million MWh of electricity annually. If this goal is met, it will be comparable to 16% of the mills’ electricity usage in 2022, SDI said.
“As one of North America’s largest steel producers and its largest metals recycler, we are excited to be collaborating with NextEra Energy Resources, the world’s largest generator of renewable energy from the wind and sun, to place new renewable energy onto the ERCOT power grid,” Mark D. Millett, chairman and CEO of SDI, said in the release.
The energy hub will be developed, owned, and operated by a subsidiary of NextEra Energy Resources, SDI said, with operations set to begin in 2024.
Steel Dynamics produces steel via an electric-arc furnace (EAF), uses a circular manufacturing model, and produces lower-carbon steel products, Millett noted.
“Our steel mills’ greenhouse-gas emissions are among the lowest in the industry globally. This investment represents a significant step forward on our path to carbon neutrality,” he said. “The steel industry is vital to a healthy manufacturing base and sustainable infrastructure, and we produce the steel required for a sustainable future.”
Becca Moczygemba
Read more from Becca MoczygembaLatest in Steel Products
US HR prices surge above offshore tags
Hot-rolled (HR) coil prices leaped in the US this week, while tags abroad saw more measured gains. The result: US hot band prices have become even more expensive than imports on a landed basis. In fact, the premium US HR prices carry over HR prices abroad now stands at a 12-month high.
US rig counts inch up again, Canadian activity slips
The latest oil and gas rig count in the US increased slightly from last week, while Canadian activity edged lower, according to Baker Hughes.
SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]
CRU: Rising protectionism impacts global steel trade
US sheet prices surge following tariff announcement
SMU Community Chat replay now available
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]