Although the financial details of the agreement were not disclosed, the transfer was fully approved by the relevant authorities, including the Dutch Consumer and Markets Authority (ACM).
Strategic acquisition to support low carbon steel production
Hans van den Berg, CEO of Tata Steel Nederland, called the transfer of ownership a significant step in the company's roadmap for green steel. Direct ownership of the power units will allow the company to organize a controlled transition from traditional steel production to cleaner production processes.
The Vattenfall power plants in the Aimond region consist of three units. Power plants 24 and 25 in Velsen Nord generate electricity mainly from residual gases produced during steel production, and this electricity is used by Tate Steel Nederland in its operations. The third unit, IJmond 01, is a combined heat and power plant located at the Tata Steel site in Eimeiden. It is also powered by steelmaking gases and produces both electricity and steam, which are used in steelmaking processes.
