He said that we are looking for emission-free electricity that helps us reach our climate goals.
Outokumpu has set a near-term goal of reducing its direct and indirect emissions, as well as emissions across its value chain, from the levels of 2016 by 42 per cent per tonne of stainless steel by 2030. The target is a 30 per cent reduction from 2020 levels.
One potential location for the small modular reactor is close to the steel producer's mill in Tornio, Western Lapland. The plant is close to the production facility where the electricity is used, according to Malinen.
Small nuclear reactors and other carbon-free energy solutions are important for Outokumpu because they not only reduce its carbon emissions but also ensure that it has access to competitively priced electricity.
We are the largest electricity buyer in Finland. Malinen noted that electricity is our most important production input together with metal.
Outokumpu consumes about four terawatts of energy a year, about as much as the city of Helsinki, according to YLE. Matti Kattainen, head of the nuclear future at Fortum, said that modular reactors typically have a capacity of 300 500 megawatts.
While Finland has seen an increase in wind power capacity, Malinen reminded that wind power is unlikely to satisfy the needs of industries that require electricity at all hours of the day and all times of the year because of the reliance on weather conditions.
The global steel industry, which produces more greenhouse gas emissions than all but two countries in the world, is scrambling to meet growing demand for low emissions steel, as automotive and household appliance manufacturers are looking for ways to reduce emissions across their supply chain and emission rights become more expensive, bridging the gap between low-carbon and fossil steel.
Outokumpu has identified three primary measures for reducing emissions, according to the public broadcasting company. It plans to make coke from low-carbon biomass instead of imported coal, increase the use of recycled metal and transition to greener energy sources.
That is why we are trying to make sure that the electricity we use generates as little emissions as possible, preferably none, said Malinen.
Kattainen of Fortum reminded YLE that the industry has a key role in reducing carbon dioxide emissions. We want to respond to the demand for clean energy in the Nordics. Fortum has looked at the potential of small modular reactors since autumn, earlier in the year putting pen to paper on partnerships with likes of Helen, France's EDF and Sweden's K nfull Next. Last week, the majority state-owned energy company announced the start of co-operation with Rolls-Royce, a British company that has developed a 470 megawatt small modular reactors.