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Commercial Metals Company Poland Signs a 10 Year PPA with Statkraft

Steel News - Published on Fri, 24 Jan 2020

Image Source: statkraft.com
Statkraft and Commercial Metal Company Poland have become strategic partners, commencing with the signing of a long-term financial power purchase agreement. The agreement fixes the price for 20 percent of CMC Poland’s power consumption, starting in 2021. CMC Poland, a wholly owned subsidiary of the global steel market leader Commercial Metals Company, is one of the largest electricity consumers in Poland. Statkraft is wholly owned by the Norwegian state and Europe’s largest generator of renewable energy.

CMC and Statkraft developed together a customized product suited for the needs of energy-intensive industry. The financially settled PPA will co-exist with the physical supply contract, while providing a fixed price to CMC. Statkraft is able to provide this contract on the back of its Polish renewable PPA portfolio. While owning its own global assets, Statkraft provides bankable PPA offtake agreements to renewable generators both in Poland and across the EU.

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Posted By : Rabi Wangkhem on Fri, 24 Jan 2020
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