Vallourec and Eneva enter into a renewable energy agreement
In line with its ESG (Environmental, Social, and Governance) practices, Vallourec has signed a renewable energy agreement with Eneva, the largest private onshore natural gas company in Brazil and an integrated energy company. As part of the agreement, Vallourec will have an ownership in the Complexo Solar Futura I located in the municipality of Juazeiro, Bahia.
The 12-year agreement will begin in September 2023 and end in December 2035. During that period, Vallourec will generate and consume a portion of its energy needs, equivalent to 29 average megawatts (aMW), representing approximately 25% of Vallourec’s total consumption in Brazil. The negotiation passed without restrictions by the Brazilian Antitrust Authority (CADE).
Over the decades, Vallourec has invested in technologies and processes for developing alternative sources of renewable energy, aiming to achieve sustainable results throughout its value chain and decarbonize its operations.
It is in Vallourec's DNA to seek innovative solutions with the least possible environmental impact. The partnership with Eneva for renewable energy generation is a significant initiative and is in line with our global strategy to reduce greenhouse gas emissions within the Group
The agreement between the two companies is aligned with the increased focus in the Brazilian free energy market on solutions that can promote sustainability. “The partnership with Vallourec reflects our commitment to creating competitive solutions for our customers, supporting their decarbonization initiatives, combined with a path toward energy transition for our stakeholders and partners,” emphasizes Marcelo Cruz Lopes, Director of Marketing, Trading, and New Ventures at Eneva.
Starting its operation this year, the Complexo Solar Futura received R$ 2.9 billion in investments. The project can expand with the Futura II and Futura III plants. Together, they could add 2.3 GW of installed capacity to the station.
