Blastr signs cooperation for clean electricity

Blastr Green Steel (Blastr) has signed a letter-of-intent (LOI) with Norwegian power company Sogn og Fjordane Energi (SFE) for long-term supply of clean electricity to Blastr’s pellet plant.

The pellet plant is projected to be built on Lutelandet on the west coast of Norway, to supply feedstock to Blastr’s ultra-low CO₂ steel plant currently under development in Inkoo, Finland. In August, Blastr selected the Lutelandet industrial area as a potential location for the development of a plant for converting iron ore pellet feed into direct reduction (DR) pellets. The site has established industrial infrastructure, access to renewable energy, and a deepwater port at a strategically placed North Sea location.

Under the LOI, Blastr and SFE will work together to establish a long-term power supply agreement, Kallanish understands. The parties target signing a final agreement by the end of 2025, subject to Blastr attaining relevant regulatory approvals and making a final investment decision for the Lutelandet plant.

Blastr also has an LOI with Redcar Bulk Terminal (RBT) at Teesside, United Kingdom, as another potential location for the pellet plant. By considering two sites in parallel, Blastr maintains optionality during the development process to optimise the green steel value chain.

Christian Koehl Germany