LKAB and Statkraft deepen cooperation in onshore wind energy

The international mining group LKAB and energy company Statkraft have signed a Memorandum of Understanding for the supply of electricity from the future Hästliden wind project located in Piteå, Sweden. This is stated in a press release from LKAB.

It is planned that the volume of electricity production will reach 2.2 TWh per year, which is about 20% of the current electricity consumption in this part of the country.

“A smooth transition to carbon-free production requires new sources of clean energy. We rely on Statkraft and other energy partners to deliver projects on competitive terms,” said Stefan Savonen, Vice President Energy at LKAB.

The Hästliden project involves the installation of 85 wind turbines up to 300 meters high. This will reduce the cost of electricity generation by up to 25% per kWh and reduce the environmental impact. According to Jacob Norström, Head of Statkraft in Sweden, the plan can be implemented by 2029 if the government approves it.

LKAB and Statkraft are also exploring opportunities to integrate wind energy with hydrogen production. This cooperation is aimed at creating sustainable solutions for the energy and metallurgy sectors.

As GMK Center reported earlier, in 2023, LKAB increased its production of iron ore by 4.8% compared to 2022, to 26.2 million tons. Shipments of iron ore to consumers amounted to 25.3 million tons, down 1.9% yoy.

LKAB is a Swedish state-owned mining company specializing in the extraction and processing of iron ore. It is one of the world’s largest iron ore producers, especially known for its underground mines in Kiruna and Malmberg. The main consumers of its products are steel mills in the EU. As the company is actively investing in green steel production technologies, its products are also of interest to international markets seeking to reduce CO2 emissions.