NLMK DanSteel supplies steel heavy plates for next-gen floating offshore wind farm

AK&M 05 August 2020 13:57

NLMK DanSteel, NLMK Group's plant in Denmark, has supplied its heavy plate for the Wind Float Atlantic project. Wind Float Atlantic is the first semi-submersible floating wind farm in the world located off the north coast of Portugal, NLMK informed.

NLMK DanSteel's high-quality steel heavy plates are used in the production of floating platforms and foundations.

Wind Float Atlantic comprises three wind turbines 8.4 MW each, mounted on floating platforms. The third platform was installed in July, and the wind farm will start operating at full capacity. The wind farm will be able to generate enough energy to supply 60,000 households in Portugal. Wind Float Atlantic will save almost 1.1 million tonnes of CO2 emissions per year.

With the aim to participate in such innovative offshore projects, NLMK DanSteel has improved its technological process of heavy plate production and developed a special chemical composition of high-strength steel that ensures strong performance under high static and dynamic loads at low temperatures. Together with the American Bureau of Shipping (ABS), the plant has successfully completed product certification.

NLMK Group is a vertically-integrated metallurgical company, Russia's leading manufacturer of steel products, one of the most effective steelmakers worldwide.

NLMK Group's metal products are used in various industries from construction and mechanical engineering to power equipment and offshore wind farms.

NLMK Group's production assets are located in Russia, Europe and the USA. The group's production capacity exceeds 17 million tonnes per year.

NLMK's ordinary shares (free-float of which is 16%) are traded on the Moscow Stock Exchange (NLMK Ticker), its Global Depositary Shares on the London Stock Exchange (NLMK:LI Ticker). The company's authorized capital is RUB 5,993,227,240. It consists of the same number of shares with a face value of 1 ruble.

Revenue of the company for 2019 was $10.6 billion, EBIRDA amounted to $2.6 billion. Net debt/EBITDA ratio was 0.7x.