Vattenfall Signs Major Supply Agreement With Ovako

Vattenfall has signed an electricity supply agreement of approximately 1 TWh annually with leading Finnish steel manufacturer Ovako, enabling improved transparency and electricity cost control for Ovako.

Vattenfall will supply all Ovako's production facilities in the Nordic region with electricity, the three largest being Hofors and Smedjebacken in Sweden and Imatra in eastern Finland. Ovako is committed to sustainability with their steel production based on recycled scrap, making them one of largest steel scrap recyclers in the Nordics. 

"We have a clear strategy for efficient communications with our customers, who know that we take responsibility and deliver what we promise. Ovako is a large and important customer, and this collaboration demonstrates that sustainability and our expertise is vital for achieving profitability," says Branislav Slavic, Head of Business Sales, Vattenfall. 

Vattenfall is committed to reduce its climate impact across the entire value chain and offering climate smart solutions, with special focus on supporting customers and society by lowering their emissions and to reach their climate targets. 

"Ovako is extremely active in sustainability and we work continuously to improve in this area. Energy plays an important role in our production process as it powers much of the manufacturing of our steel using recycled steel scrap. For Ovako, it's important to have both a reliable supply and a sustainable profile for our electricity, as well as to maintain transparency and control costs," says Paola Zetterberg-Eriksson, Head of Group Purchasing, Ovako. 

Facts: Ovako’s sales in 2016 amounted to EUR 781 million, and the company had 2,800 employees at year-end. In one year. Ovako recycles approximately 800,000 tonnes of scrap