By Giulia Petroni

Iberdrola Deutschland has signed a long-term power-purchase agreement with steel maker Stahl Holding Saar for the supply of wind energy.

The company said Tuesday that the PPA will last 15 years and allow SHS to cover an annual consumption of 200 gigawatt hours. The wind power will be supplied from Iberdrola's Baltic Eagle offshore wind farm, which is being built in the Baltic Sea and set to be commissioned at the end of next year.

"This is the first of several PPAs planned by the two companies for the coming years," Iberdrola said.

Financial details weren't released.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

June 20, 2023 07:05 ET (11:05 GMT)

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