Outokumpu Increases Stake in Tornio Wind Farm

Outokumpu Oyj has increased its ownership in the Rajakiiri wind farm located in Tornio, Finland. This latest investment raises the company's stake to nearly 9 megawatts (MW), or 19.9% of the shares. The 45 MW wind farm has been operational since 2015 and has an estimated 16 years of production life remaining.

The move is part of Outokumpu's strategy to reduce its climate impact and enhance energy self-sufficiency. By increasing its investment in renewable energy, the company aims to lower its indirect emissions and optimize power supply for its operations, seeking more predictable energy pricing and reduced market volatility.

Outokumpu's energy unit, Outokumpu EvoEnergy, has been exploring investments in wind, solar, and nuclear power. The unit is also reviewing technologies for capturing carbon from stainless steel operations to reduce direct emissions.

This increased ownership in the Rajakiiri wind farm also supports potential future expansion plans. Outokumpu is committed to finding technologies and solutions for efficient utilization of wind power. While renewable energy production is growing in the Nordic region, its weather dependency necessitates careful operational management.