Outokumpu, a leader in sustainable stainless steel, amplifies its ownership in the Rajakiiri wind farm in Tornio, Finland. This strategic move aligns with Outokumpu's commitment to reducing indirect emissions and fortifying energy self-sufficiency. The investment enhances Outokumpu’s stake to nearly 9MW and 19.9% shares, aiming for a long-term association and future expansions in renewable energy ventures.
Outokumpu, a global frontrunner in sustainable stainless steel, continues its journey towards environmental stewardship by bolstering its ownership in the Rajakiiri wind farm located in Tornio, Finland. Recognizing the imperative need to mitigate climate impact throughout its value chain, Outokumpu views investments in low-emission energy production as pivotal steps toward reducing indirect emissions.
The decision to increase its stake in the Rajakiiri wind farm emanates from Outokumpu's strategic roadmap, aiming to fortify its sustainability leadership and enhance energy self-sufficiency. By augmenting its ownership, Outokumpu's engagement in this 45MW wind farm intensifies, now nearing 9MW and 19.9% of total shares.
Tony Lindström, General Manager of Outokumpu EvoEnergy, elucidates the rationale behind this move, emphasizing the company's initiative initiated in 2023 to diversify energy consumption sources and curtail electricity-related risks. This amplified investment not only solidifies Outokumpu's access to windmills proximate to its operations but also nurtures and expands partnerships within the Rajakiiri wind farm and its stakeholders.
Outokumpu EvoEnergy, the company's energy division, has been actively exploring various energy production avenues, including wind, solar, and nuclear, while also investigating technologies to capture carbon from stainless operations. This endeavor seeks to mitigate direct emissions from stainless steel and ferrochrome operations.
In the Nordic regions, renewable energy production, particularly from wind and solar sources, has witnessed rapid growth. However, due to its weather-dependent nature, optimal utilization demands meticulous operational oversight. Outokumpu EvoEnergy, in collaboration with its partners, commits to seeking innovative technologies to optimize and harness wind power effectively.
Outokumpu's reinforced ownership in the Rajakiiri wind farm underlines its dedication to sustainable energy. This strategic investment not only fortifies Outokumpu's stake but also cements partnerships for future renewable energy expansions. With a focus on carbon capture and renewable energy optimization, Outokumpu aims to pioneer environmentally conscious practices in its stainless steel operations.