Spanish energy company Moeve announced it has signed an agreement with steel company ArcelorMittal Spain to purchase Certificates of Energy Savings (CAEs) covering 2.1 TWh of annual energy savings.
According to the companies, the agreement is ten times larger than the largest CAE deal previously registered in Spain and is expected to contribute to industrial decarbonization and the transition to more sustainable production steel.
The agreement supports the decarbonization project of Gijon
The companies said that monetizing these energy savings has allowed ArcelorMittal to advance the decarbonization plan of its long steel division in Gijon, including the construction of a new electric arc furnace, which is currently in its final stages. The project is expected to significantly reduce both energy consumption and emissions from steel production.
Annual energy savings of 2.1 TWh are equivalent to more than five percent of the total final energy consumption of the Principality of Asturias, while the completed transition is expected to reduce Asturias steel production emissions by up to one million tonnes of CO2 equivalent per year. year.
Companies emphasize the role of energy saving. Certifications
Carlos Barraza, executive vice president of commercial and clean energy at Moeve, said the agreement will improve the sustainability and competitiveness of one of the most energy-intensive industries, adding that energy efficiency certificates have become an important tool for accelerating the energy transition in sectors such as the steel industry.
Philip Meiran, CEO of ArcelorMittal Spain, said the agreement provides strong support for the company's decarbonization plan at the Gijon plant, enabling the production of low-carbon steel and contributing to a more sustainable future for its operations.
The companies noted that the CAE mechanism allows businesses to contribute to Spain's National Energy Efficiency Fund through verified energy savings or financial contributions. Within the system, one certificate represents energy savings equivalent to 1 kWh in one year and is achieved through energy efficiency and emission reduction measures.
Elif Kefeli Editor I Graduated from Yeditepe University Faculty of Translation and Interpretation in 2017. I joined
There are no comments yet.