The agreement aims to ensure a long-term supply of clean electricity. The ultra-low CO2 steel plant will be located in Lutelandet on the west coast of Norway and will employ around 120 people with an estimated investment of around €1.2 billion.
Blastr's Norwegian pellet plant aims to produce 6 million tonnes of high quality DR pellets per year as raw material. Hans Fredrik Wittusen, CEO of Blastr Green Steel, said: "This is an important step towards securing power capacity and grid connection for the potential pellet plant at Lutelandet, which will utilise renewable hydropower and wind energy to accelerate the development of the decarbonised steel value chain. We are very pleased with the support of SFE and other key regional partners as we progress the development plan for the Lutelandet site."
The two companies aim to sign a final agreement for the Lutelandet plant by the end of 2025, depending on the final investment decision.
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