decarbonization - Latest news GMK Center

Reducing emissions in ‘dirty’ sectors of the economy depends on access to clean electricity and a flexible power system

Initiatives are being held up due to a lack of funding and weak demand for cleaner steel products

The budget for the first phase of the project is around €1.5 billion

The new 62 MW power unit will form part of the plant’s decarbonisation programme and is due to come on stream in 2030

The company did not specify the timing of these investments

The company calls the decision the foundation for its long-term plans

The tests took place in China as part of the companies’ ongoing partnership on decarbonisation

The steel producer and National Grid are exploring options to speed up the work

The company has reduced its annual carbon emissions by over 2 million tonnes

The initiative will complement another programme approved at the end of last year

Energy, trade, and investment pressures are creating new opportunities for cooperation

Stable framework conditions are necessary for investments in decarbonization and technological modernization