NLMK Group and Rosenergoatom agree on strategic partnership in energy
NLMK Group, a global steel company, and Rosenergoatom (part of the Electric Power Division of Rosatom State Corporation), a leading Russian generation company, have signed a partnership agreement on low carbon power energy supplies.
The agreement covers various formats of cooperation, including bilateral electricity (capacity) contracts and joint demand response efforts (adjusting energy consumption depending on the load in the power system and electricity rates).
The agreement also covers the possibility of supplying low-carbon energy from Rosenergoatom power stations to Stoilensky’s new metals and mining facility being developed by NLMK Group.Increasing the share of low-carbon energy sources is one of NLMK Group’s priority initiatives aimed at reducing the carbon intensity of production and greenhouse gas emissions. Nuclear energy is one of the main decarbonization tools, currently accounting for a third of global low-carbon electricity production.
The agreement continues the cooperation between the two companies in the field of low-carbon energy supply and demand response initiated in 2021. NPPs will be supplying over 3 billion kWh to NLMK Group sites in 2021.
Rosenergoatom is Rosatom’s biggest division. It is the largest generating company in Russia and the second largest in the world in terms of nuclear generating capacity. Rosenergoatom comprises 11 nuclear power plants in Russia, including a unique floating nuclear power plant (FNPP). In total, 38 power units with an installed capacity of 30.345 GW are operated at 11 NPPs in Russia.
Nuclear power currently covers over 19% of all electric power demand in the country. Rosenergoatom became the leader in electricity generation in the Russian Federation in 2019, with a record annual output of 208.7 billion kWh.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore wind turbines.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has a highly competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. The Company has investment grade credit ratings from S&P, Moody’s, Fitch, and Expert RA.
NLMK’s ordinary shares with a 20.7% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB1. For more details on NLMK shareholder capital, please follow the link.
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