Thyssenkrupp requires solutions: without affordable energy, hydrogen strategy is questionable
Thyssenkrupp adheres to plans to build a 3.5 billion euro green steel plant in Duisburg. This is stated in the company's statement, according to Reuters.
However, according to the company, in order for the transformation to be successful under economically viable conditions, it is necessary to adjust the framework conditions and accelerate the expansion of the relevant infrastructure, especially with regard to the hydrogen network and ensuring competitive energy prices.
At the end of last week, ArcelorMittal announced the abandonment of plans to convert two plants in Germany to carbon-neutral production due to too high energy costs in the country. This decision, the agency notes, is a new blow to the German industrial sector and calls into question the strategy of "green" hydrogen launched by the previous government.
The German Ministry of Economy expressed regret over the statement of ArcelorMittal, which refused state aid for these projects in the amount of € 1.3 billion. Since these funds have not been received yet, they do not need to be returned.
The government hoped that the subsidies would encourage ArcelorMittal to convert plants in Bremen and Eisenhuttenstadt to use furnaces powered by hydrogen, which can be produced from renewable electricity.
Three other projects – apart from Thyssenkrupp, these are the initiatives of Salzgitter and Stahl-Holding-Saar – continue to be implemented, said a representative of the Ministry of Economy.