Brazil's Gerdau to invest $277mln into solar-, wind-powered steelmaking

Brazil-based Gerdau will invest up to 1.5 billion Reais ($277 million) in solar and wind power projects by acquiring a third of energy generation and commercialization company Newave Energia, advancing its decarbonization goals, the steelmaker said on Friday November 25.

Greenfield projects carried out by Newave will have around 2.5 gigawatts in capacity and are expected to start operating in 2025 and 2026, according to Gerdau. Newave also has some...

Published

Renato Rostás

November 28, 2022

16:09 GMT

São Paulo