- The agreement, covering 2.1 TWh in annual energy savings, is ten times larger than the biggest transaction of its kind recorded in Spain to date
- The agreement with Moeve, a leading player in the Energy Savings Certificate market, supports ArcelorMittal’s decarbonization plan for its integrated steelmaking operations in Asturias. The energy savings will be accompanied by a reduction of up to one million metric tons of CO2 equivalent in emissions from its steelmaking operations, linked to the construction of a new electric arc furnace in Gijón
Moeve and ArcelorMittal have reached an agreement for the acquisition of Energy Savings Certificates (Certificados de Ahorro Energético, or CAEs) covering 2.1 TWh in annual energy savings. The agreement is ten times larger than the biggest transaction of its kind recorded in Spain to date. The transaction reinforces the role of this mechanism as an effective driver of industrial decarbonization and provides decisive momentum for the transition toward more sustainable steel production.
Monetizing these energy savings has been instrumental in enabling ArcelorMittal to implement the decarbonization plan for its long products division in Gijón. The plan includes investment in a new electric arc furnace, which is currently in the final stages of construction. The project will significantly reduce both energy consumption and emissions from the steelmaking process. The annual reduction of 2.1 TWh represents energy savings equivalent to more than 5% of the Principality of Asturias’ total final energy consumption. Once the transition phase has been completed, these energy savings will also be accompanied by a reduction of up to one million metric tons of CO2 equivalent in emissions from steelmaking operations in Asturias.
“This agreement will help enhance the sustainability and competitiveness of one of the most energy-intensive industries. Energy Savings Certificates have become a key lever for advancing the energy transition in sectors such as steel, and at Moeve we want to lead this transformation by supporting our industrial customers throughout the process. In addition to providing sustainable energy solutions, we want to help them capture the full benefits of energy efficiency.”
Carlos Barrasa, executive vice president of Commercial & Clean Energies
Philippe Meyran, CEO of ArcelorMittal Spain, said: “The agreement with Moeve has provided decisive momentum for our decarbonization plan at ArcelorMittal Asturias’ Gijón plant. The project will enable us to produce low-carbon steel and secure a more sustainable future for our operations. This is an exciting step forward: we are going to produce steel in Asturias with a significantly lower carbon footprint.”
Energy Savings Certificates: a key driver of industrial transformation
Mechanisms such as Energy Savings Certificates make it possible to implement and accelerate industrial projects that require major investment to advance the energy transition. CAEs allow companies to contribute to Spain’s National Energy Efficiency Fund through both financial contributions and verified energy savings. One CAE certifies that energy savings equivalent to 1 kWh have been achieved over the course of one year. These savings can be generated through measures aimed at improving energy efficiency and reducing emissions, accelerating the decarbonization of sectors such as industry.
This agreement strengthens Moeve’s position as a key player in Spain’s emerging CAE market and forms part of its Moeve decarbonize commercial offering. Through this offering, Moeve supports industrial customers on their decarbonization journeys by providing access to a comprehensive portfolio of energy solutions, including renewable electricity, biomethane, and HVO, while also helping them optimize their energy costs.
