By Rhiannon Hoyle

SYDNEY--BlueScope Steel Ltd. (BSL.AU) said it has signed a seven-year deal with Esco Pacific and Schneider Electric SE (SU.FR) to source power from a new solar farm in New South Wales state, equivalent to roughly 20% of the steelmaker's Australian electricity needs.

BlueScope said it has agreed to take 66% of the 133 megawatts of energy generated from Esco Pacific's 500,000-panel Finley Solar Farm, which is expected to be operational around the middle of next year.

BlueScope said the deal would "help keep downward pressure on our energy costs, and will support the gradual transition to renewable energy" for its power-hungry steel-making operations.

Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com

(END) Dow Jones Newswires

July 19, 2018 18:46 ET (22:46 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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