Vale Received 100% of its Electricity in Brazil from Renewable Power in 2023

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Written by Amir Richani for Industrial Info Resources (Sugar Land, Texas)--Brazil-based miner Vale SA (NYSE:VALE) (Rio de Janeiro) reported Monday that all the electricity used in its operations in Brazil last year came from a mix of renewable energy sources, including hydroelectric, wind and solar power. The company said it reached 100% renewable electricity consumption two years ahead of its goal.

The company said it aims to reach 100% renewable energy consumption globally by 2030. Currently, Vale's renewable energy operational consumption stands at 88.5%.

Vale said it has "zeroed" its Scope 2 indirect carbon dioxide-equivalent (CO2e) emissions in Brazil. The company aims to achieve net-zero emissions by 2050.

"As we are progressing on our targets, we are helping to make Brazil's energy matrix even cleaner, contributing to society's fight against climate change," said Director of Energy and Decarbonization Ludmila Nascimento in a press release.

Vale's scope 1 (direct) and 2 (indirect) CO2 emissions in 2023 stood at 9.7 million metric tons, representing a decline of 20.4% compared to the 2017 baseline.

According to Vale's integrated report, pelletizing of iron ore represents roughly 34% of the Scope 1 emissions, which are produced directly by the company. Yet, last year, Vale finalized a feasibility analysis test on the use of biocarbon, a sustainable alternative, to replace all its conventional fuel to burn iron ore agglomerate used in steel production.

Also, this year, the company's Sao Luis pelletizing plant will switch to natural gas for fuel consumption, reducing emissions by roughly 28%.

Meanwhile, the company's Scope 3 emissions last year were 451.2 million metric tons CO2e, a drop of 14.8% compared to the 2018 levels. Scope 3 emissions relate to those generated from the product value chain, not the company's direct or indirect operations.

Vale said it relies on renewable energy production from 2.6 gigawatts of installed capacity, which is roughly equal to enough power for more than 3 million people. The company holds direct and indirect participation in consortia and companies across 14 renewable energy assets.

One of its more recent developments is the Sol do Cerrado solar complex in the state of Minas Gerais, inaugurated in November 2022. Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project and Plant databases can click here for the related project reports and click here for the plant profile.

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