Statkraft to supply renewable power to Spanish steel manufacturer

Norwegian power utility Statkraft AS has announced that it will be supplying renewable power to Spanish steel tubes manufacturing company Tubos Reunidos SA.

The company informed that it has already signed a power purchase agreement (PPA) for the same.

Under the agreement, Statkraft will supply renewable power for 10 years including for Tubos Reunidos' energy consumption.

It has been informed that the agreement has come into operation since February itself.

According to a report, the Spanish company Tubos Reunidos will be benefited from "greater price stability over the next decade following a year in which the industrial sector had to deal with high energy costs."

Statkraft has been expanding its renewables portfolio in Spain. Currently, Statkraft owns 1,200 MW of solar and wind projects in Spain, according to the company.

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