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Levelised cost breakdown for hydrogen-direct reduced iron route and conventional steel production in Ukraine

Last updated 14 Mar 2025

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Notes

BF = Blast Furnace; BOF = Basic Oxygen Furnace; H2-DRI = hydrogen-based Direct Reduced Iron. Grid electricity price for blast furnace = USD 63/MWh. CAPEX for onshore wind in Germany of USD 1 750/kW and USD 1 373/kW for Ukraine. CAPEX of USD 2 160/kW for the electrolyser, and capacity factors of 29% and 32% for onshore wind in Germany and Ukraine, respectively. CO2 intensity of 2.1 tCO2/t of steel for the BF-BOF route. Levelised cost for 7% cost of capital and EUR 100/tCO2 carbon price.

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