Nucor Inks Deal with NextEra Energy Resources to Promote Solar Energy Advancement in Kentucky

8 August 2023

Nucor Corporation has announced a significant milestone today, as they enter into a Power Purchase Agreement (PPA) with Sebree Solar, LLC, a subsidiary of NextEra Energy Resources, LLC, securing 250 megawatts of renewable energy. Sebree Solar, a pioneering two-phase solar initiative based in Henderson County, Kentucky, is poised to contribute up to 400 megawatts of American-made energy. The first phase, Sebree Solar I, is scheduled to commence construction in the fall of 2023.

Kentucky Governor Andy Beshear voiced his support, stating, "Nucor's expansion in Kentucky has been notable in recent years, with substantial investments and job creation amplifying the distribution of its steel products. Whether it's cutting-edge metal manufacturing or electric vehicles, Kentucky is establishing itself as a national frontrunner in forging future employment opportunities. We anticipate Nucor's ongoing success and warmly welcome NextEra Energy Resources to the state, fostering what we hope will be a mutually beneficial and enduring partnership."

The raw materials for Sebree Solar I will be procured from Nucor Steel Gallatin in Ghent, Kentucky. This locally sourced steel will also contribute to another solar venture by NextEra Energy Resources, known as Green River Solar, spanning Meade and Breckinridge counties. Expected to generate up to 200 megawatts of electricity, the Kentucky-produced steel will be instrumental in forming the support system for the solar panels of both projects.

Greg Murphy, Executive Vice President of Business Services and General Counsel at Nucor Corporation, expressed enthusiasm about the collaboration, stating, "Working alongside NextEra Energy Resources and being a critical material supplier for this significant energy addition to Kentucky, where our presence has significantly grown in recent years, brings us immense satisfaction. As the energy transition of our country relies on steel, it's essential that the steel itself is produced sustainably. While Nucor already ranks among the world's cleanest and most sustainable steel manufacturers, this agreement further propels our efforts to decrease our environmental impact and meet our progress objectives."

Sebree Solar I is projected to initiate commercial operation by December 2025. Over its 30-year operational span, it is poised to contribute approximately $20 million in supplementary tax revenue to Henderson County, providing funding for vital infrastructural components like roads, schools, and public services.

Kentucky Senate President Robert Stivers also welcomed the collaboration, highlighting its potential to bolster the local workforce and economic development, and further establish Kentucky as a prominent player in steel manufacturing and energy production throughout North America.

This announcement marks a significant stride in Nucor's broader sustainability strategy, aligning with their prior wind-powered PPA commitment in 2021. Together, these two PPAs will enable Nucor to access 350 megawatts of carbon-free electricity, a sufficient power source for about 100,000 U.S. households annually.

Rebecca Kujawa, President and CEO of NextEra Energy Resources, expressed their commitment to supporting Nucor's sustainability objectives and the broader community. She emphasized the project's potential to generate environmentally friendly energy, enhance local tax revenue, and foster economic growth in Kentucky.

In tandem with the economic and environmental benefits, the collaboration between Nucor and NextEra Energy Resources has garnered support from Kentucky House Speaker David Osborne, highlighting its potential to create lasting positive impacts for the region and beyond.