Axpo Nordic and Stegra have signed a power purchase agreement for the supply of electricity to Stegra’s integrated green hydrogen, green iron and green steel production plant in Boden, northern Sweden.
Under the agreement, Axpo Nordic will supply 2.25 TWh of electricity over three years, starting in 2027, to Stegra’s facility in Boden, which is currently under construction. Both parties see this agreement as the beginning of a longer business relationship and an important element of the electricity supply to Stegra’s plant, which will produce green hydrogen, green iron and green steel at large scale.
“Axpo is a great example of an innovative player on the electricity market and a good partner for us at Stegra in securing fossil-free electricity for our large-scale production of hydrogen, iron and steel in Boden. The delivery of this power volume is another important building block in our energy portfolio and furthers our purpose to decarbonize hard-to-abate industries,” says Arne Österlind, Head of Energy Portfolio at Stegra.
“Our partnership with Stegra further demonstrates Axpo’s commitment to facilitating the transition to a low-carbon economy. It is especially rewarding for us to work with a company whose business case has the potential to revolutionize the steel industry and reduce its carbon footprint. We hope to continue supporting Stegra, both in Sweden and other countries where it plans to expand,” says Axpo Sverige AB Managing Director Tomas Sjöberg.
Axpo Nordic is a subsidiary of the Axpo Group, a leading international energy company headquartered in Switzerland. Operating in the Nordic and Baltic energy markets, the subsidiary has a particular focus on electricity trading, renewable energy solutions, and energy-related services. A pioneer of power purchase agreements in the Nordics, the company secured its first PPA almost 20 years ago. Axpo Nordic currently has 24 TWh of renewable power from wind and solar under management in the region and manages 3.5 GW of renewable power annually.
For more information, contact: Karin Hallstan, Head of Public and Media Relations, Stegra at press@stegra.com or +46 79 006 03 99
Additional information Axpo Holding AG, Corporate Communications, T 0800 44 11 00 (Switzerland) | T +41 56 200 41 10 (International), (Available 8.00 a.m. to 5.30 p.m.) medien@axpo.com
About Axpo
Axpo is driven by a single purpose – to enable a sustainable future through innovative energy solutions. Axpo is Switzerland’s largest energy producer and an international leader in energy trading and the marketing of solar and wind power. Axpo combines the experience and expertise of more than 7,000 employees who are driven by a passion for innovation, collaboration and impactful change. Using cutting-edge technologies, Axpo innovates to meet the evolving needs of its customers in over 30 countries across Europe, North America and Asia.
About Stegra
Stegra is an industrial impact scale-up in the process of building its first plant for large-scale production of green hydrogen, green iron and green steel. The company was founded in 2020 as H2 Green Steel and changed name to Stegra in 2024 to reflect its purpose to decarbonize hard-to-abate industry, starting with steel. Stegra’s flagship plant is being built in Boden, northern Sweden, and its headquarters are in Stockholm. www.stegra.com
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