Outokumpu to Participate in the Development of Wind Park in Tornio, Finland

Outokumpu, a worldwide leader in stainless steel, announced that it will be participating in the development a 30-MW wind park in Tornio, Finland along with Rajakiiri Oy, a wind power company. Outokumpu is having a shareholding interest in Rajakiiri.

Rajakiiri is proposing to construct a wind park in Röyttä, near the Tornio Works site. Out of the total wind power generated from the proposed park, 20% will be supplied to Outokumpu. The company’s manufacturing site in Tornio represents Finland’s single largest electricity user. With its decision to invest in renewable energy, Outokumpu is aiming to increase its competitiveness and make certain it receives a steady supply of energy that is reasonably priced as well.

Juha Rantanen, CEO, said the Tornio wind park complements Outokumpu nuclear and hydropower energy projects. The decision to participate in the wind park is an important element of the company’s energy strategy, which will provide a low and stable-priced power to the company, Rantanen said.

The wind power project will help the company to assess the potential for stainless steel applications for renewable energy projects. Offshore installations are evincing interest in corrosion-resistant stainless steel. Over 80% of the electricity used by Outokumpu is sourced from low-emission sources. About 0.5% of the company’s total energy needs will be met by the new wind power project. The project is scheduled to commence production by the end of 2010, and the energy generated is enough to meet the electricity requirements of 5,000 homes.

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