Steel Dynamics signs RPPA with NextEra Energy subsidiary

Steel Dynamics (STLD) has signed a Renewable Product Purchase Agreement with a subsidiary of NextEra Energy Resources (NEE) for 308 megawatts of energy to be produced by a new wind farm project in Scurry County, Texas. The RPPA is the largest of its kind for the steel industry in North America. This project marks significant progress toward the company’s decarbonization goals. Once operational, this wind farm project is expected to produce approximately 1.1 million MWh of electricity annually, equivalent to 16% of the company’s steel mills’ electricity usage in 2022, surpassing the company’s 2025 goal of 10% renewable electricity and moving toward its 2030 goal of 30%. Additionally, this is expected to meaningfully contribute to the company’s long-term reduction of Scope 2 greenhouse gas emissions intensity.