CMC Poland signs 10-Year contract with Statkraft

CMC Poland signs 10-Year contract with Statkraft

(PRESS RELEASE) ZAWIERCIE / AMSTERDAM, 17-Jan-2020 — /EuropaWire/ — Statkraft, a hydropower company, has joined forces with Commercial Metals Company Poland (CMC) signing a 10-year financial Power Purchase Agreement (PPA) providing 20 percent fixed-rate for CMC Poland starting in 2021.

CMC Poland, a wholly owned subsidiary of the global steel market leader and US-based steel and metal manufacturer Commercial Metals Company, is one of the largest electricity consumers in Poland.

“Partnerships like these make it possible to support the growth of the industry. It also demonstrates our engagement and support to new technologies of energy generation in Poland” said Jerzy Kozicz, President of the Management Board of CMC Poland Sp. z o.o.

Statkraft and CMC Poland have developed a custom-built product designed for energy-intensive industry. The said agreement will co-exist with the physical supply contract while providing the fixed price to CMC.

“As a market integrator, Statkraft enables the development of renewable projects and simultaneously ensuring long term price stability to customers such as CMC. This transaction shows CMC’s leadership in the energy-intensive industry, which I expect will be followed by others” said Koen Dejonghe, Business Development Manager at Statkraft.

Statkraft is Europe’s largest producer of renewable energy and owned by Norwegian state. 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. 

About Commercial Metals Company

Commercial Metals Company and its subsidiaries manufacture, recycle and market steel and metal products, related materials and services through a network of facilities that includes seven electric arc furnace (“EAF”) mini mills, two EAF micro mills, two rerolling mills, steel fabrication and processing plants, construction-related product warehouses, and metal recycling facilities in the U.S. and Poland. Based in the United States, CMC is listed on the NY stock exchange with over 12,000 employees globally, whereas 2,000 are employed in Poland. The main seat of the company in Poland is located in Zawiercie, where the steel mill is placed.

For more information, please contact:

Anne Joeken
Vice President Communications Statkraft, Market Operations & IT
+49 (0)211 60244-107
+49 (0)163 961 1404
anne.joeken(at)statkraft.com

Judith Tranninger
Communication Advisor Statkraft, Market Operations & IT
+49 (0)211 60244-166
+49 (0)163 912 0014
judith.tranninger(at)statkraft.com

Press contacts CMC:

Susan Gerber, Manager of Public and Investor Relations
Tel. +1 2146894300 | Susan.Gerber@cmc.com

SOURCE: Statkraft