Liberty Steel will produce 250 Megawatts of energy from renewable sources at the Galati plant and plans to get involved in other green energy projects that are currently in the development phase in eastern Romania, the president of Liberty Steel Europe, Ajay Aggarwal, said on Thursday.

At the same time, according to Reuters, the energy requirement of the Liberty Galati complex will increase five times by 2030, the deadline for reaching the goal of climate neutrality, Ajay Aggarwal also said.

Currently, the Galati plant produces “green” steel, i.e. steel produced without the use of fossil fuels, using an electric arc furnace that is powered by renewable energy, but this process is one with a higher energy consumption.

The combine will use part of the funds made available by the European Union to finance the transition, the president of Liberty Steel Europe, Ajay Aggarwal, said on Thursday, adding that a policy of stable energy prices from the Romanian authorities is a crucial condition, according to Agerpres.

“We will need four to five times more energy than we use today,” said Ajay Aggarwal.

Liberty Galati is the largest integrated steel producer in Romania, with a production capacity of approximately three million tons of steel per year, and a portfolio of clients in the fields of construction, naval, oil and renewable energy production.