Novolipetsk Metallurgical Plant, the main site of NLMK Group, has developed an innovative grade of electrical (dynamo) steel for the production of high-tech equipment for wind turbines. The first batch was shipped to NovaWind JSC, the wind power division of Rosatom, which is implementing a project to create wind farms in southern Russia.
By 2023, NovaWind JSC plans to build wind power plants with a total capacity of 1 GW. To achieve this ambitious task, domestic electrical steel with improved characteristics was required, which will be used in the production of motors for power generators - the core of wind power plants.
“NLMK has all the necessary competencies to develop and produce innovative electrical steel grades. We are delighted to be part of an ambitious green energy project, commented Ilya Gushchin, NLMK Group Vice President of Sales.
The development of new steel grades for electric motors of wind power plants strengthens NLMK Group's position as a supplier of the renewable energy sector not only in Russia, but all over the world. The new product allows NLMK Group, which includes NLMK DanSteel, a supplier of thick plates for European wind power generation, to expand the range of products for the sector.
Information about NLMK Group
NLMK Group is a vertically integrated metallurgical company, the largest in Russia and one of the most efficient producers of steel products in the world.
NLMK Group's metal products are used in various industries, from construction and mechanical engineering to power equipment and offshore wind turbines .
NLMK's production assets are located in Russia, Europe and the United States. The company's steel production capacity exceeds 17 million tonnes per year.
NLMK demonstrates high cost competitiveness among global manufacturers, the company's profitability is one of the highest in the industry. The company's revenue for 2019 was $ 10.6 billion, EBITDA was $ 2.6 billion. The Net Debt /EBITDA ratio was 0.7x. The company has investment grade credit ratings from S&P, Moody's, Fitch and RAEX (Expert RA).
NLMK's common shares, which free-float is 18.6%, are traded on the Moscow Stock Exchange (ticker “NLMK”), global depository shares - on the London Stock Exchange (ticker “NLMK: LI”). The share capital of the Company is divided into 5,993,227,240 ordinary shares with a par value of 1 Russian ruble. More information about NLMK's share capital can be found here.
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