OYAK Mining and Metallurgy Group, a Turkish steel powerhouse, unveils an ambitious decarbonization roadmap. The plan targets a 25% reduction in Scope 1 and 2 emissions by 2030, escalating to 40% by 2040 and eventual zero emissions by 2050. Key initiatives include substantial investments in electric arc furnace technology, bolstered energy efficiency, and renewable energy ventures. The introduction of solar power plants and a shift to green hydrogen are pivotal steps towards OYAK's commitment to sustainability.
In a groundbreaking move, OYAK Mining and Metallurgy Group, a major player in the Turkish steel industry, has laid out an extensive roadmap to revolutionize its steel production and achieve significant decarbonization milestones. The company's ambitious targets aim to slash Scope 1 and 2 emissions by 25% by 2030, escalating to an even more formidable 40% reduction by 2040, ultimately culminating in achieving zero emissions by 2050.
At the forefront of OYAK's decarbonization strategy is a substantial investment in electric arc furnace technology. The company plans to leverage its investments in Erdemir and Isdemir, aiming to curtail carbon emissions by 25.7% and 17.3%, respectively. These advancements underscore OYAK's commitment to adopting cleaner and more sustainable steel production processes.
Additionally, OYAK is steering towards enhanced energy efficiency and a reduced dependency on foreign sources. By optimizing its own resources and implementing improvements in steel production processes, the company aims to fortify its sustainability endeavors.
Renewable energy takes center stage in OYAK's decarbonization journey, with investments in solar power plants at key subsidiaries. These plants, strategically located in Van, Malatya, Qorum, Diyarbakir, and §irnak, are anticipated to have a total installed power capacity of 954 MWp. The solar power plants are projected to generate a combined annual output of 1,710,000 MWh of electricity, contributing significantly to emissions reduction for Erdemir and Isdemir.
Furthermore, OYAK's commitment extends to exploring alternative energy sources. The company is set to replace coal with biomass, operate direct reduced iron plants on natural gas, and integrate green hydrogen into its production processes. The adoption of carbon capture and storage technologies adds another layer to OYAK's multifaceted approach towards achieving sustainable and eco-friendly steel production.
As Turkey charts its green hydrogen roadmap, OYAK aligns itself with the national vision. The country's ambitious plan involves establishing hydrogen production facilities with an electrolyzer capacity of 2 GW by 2030, further expanding to 5 GW by 2035, with a monumental target of reaching net-zero with an electrolyzer capacity of 70 GW by 2053.
OYAK's endeavors represent a significant stride in the global steel industry's pursuit of sustainable practices. The multifaceted approach, encompassing technological investments, renewable energy integration, and a commitment to green hydrogen, positions OYAK as a trailblazer in the transition towards a greener and more sustainable future for steel production.
OYAK Mining and Metallurgy Group's unveiling of its comprehensive decarbonization roadmap marks a pivotal moment in the steel industry's quest for sustainability. With ambitious targets to reduce emissions and strategic investments in electric arc furnace technology, renewable energy, and green hydrogen, OYAK positions itself as a leader in ushering in a new era of eco-friendly steel production. The company's commitment to achieving zero emissions by 2050 underscores its dedication to a sustainable and responsible future.