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    RWE Renewables to Form Partnership with ArcelorMittal


    June 24, 2022 - Marketline - Deals

     

      Deal In Brief

      RWE Renewables GmBH, a renewable energy company, has signed memorandum of understanding (MoU) with ArcelorMittal Bremen GmbH, a steel producer, to jointly develop, build and operate offshore wind farms and hydrogen facilities that will supply the renewable energy and green hydrogen required to produce low-emissions steel in Germany. The partnership centres on driving forward the production of carbon-neutral steel, with a plan to replace coal with wind power and green hydrogen as the main source of energy in steel production at ArcelorMittal’s steelmaking sites in Germany

      RWE and ArcelorMittal are assessing options for joint participation in tenders for offshore wind farm sites in the North Sea. RWE and ArcelorMittal will also work together on the development of green hydrogen, by jointly looking for areas where electrolysis plants can be built to supply the steel production sites in Bremen and Eisenhuttenstadt, starting with a 70 MW pilot plant by 2026 with the clear intention to increase to GW scale projects in the long term

      RWE and ArcelorMittal intend to conclude long-term purchase agreements for both wind power and green hydrogen

      In addition to the partnership on renewable electricity and green hydrogen, the companies want to investigate possible uses for ArcelorMittal’s low-emissions steel in components for RWE's renewable electricity plants.

      Deal Type Partnership
      Sub-Category Co-development
      Deal Status Announced: 2022-06-22

      Deal Participants

      Partner 1 (Company) ArcelorMittal Bremen GmbH
      Partner 2 (Company) RWE Renewables GmbH

      Deal Rationale

      (Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Marketline shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon.)

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