Merus Power wins an agreement of EUR 1 million with Suez Steel Company in Egypt for the modernization of a compensator

Merus Power has signed an agreement with Suez Steel Company in Egypt for the modernization of the steel plant’s static reactive power compensator. This is already the second cooperation project between the companies, strengthening their partnership. Merus Power's share of the contract is approximately EUR 1 million. The modernization will be carried out in early 2026 in cooperation with a local partner, ETA Electric. 

Suez Steel Company is a major Egyptian steel industry player that invests in solutions that are in line with the efficiency and sustainability of its production. 

In the modernization, the most critical components of Suez Steel Company's large static reactive power compensator, which maintains the stability of the power grid, will be replaced. Instead, large passive components can be retained, enabling a cost-effective and environmentally friendly solution. This modernization model ensures that the plant's metal smelting furnace compensator continues to operate optimally, without unnecessary downtime, and the modernization is significantly faster than replacing the entire compensator. 

Merus Power's strong expertise in improving power quality in the metal industry is reflected in customer relationships 

"We are very pleased to continue our cooperation with Merus Power and their local partner, ETA Electric. Their combined expertise and experience have been invaluable to us. The new compensator we acquired earlier has fully met our needs, and the cooperation has been very smooth. The modernization will further strengthen the plant's energy-efficient operations and support our sustainability goals," says Mohamed Zada, General Manager of Suez Steel Company. 

"For Merus Power, customer satisfaction is of paramount importance. We want to offer our customers our expertise in their key development projects. We have strong experience in projects related to improving power quality and energy efficiency in the metals industry, and this agreement supports our strategy to strengthen our position in the industry. With the modernization of the compensators, we can also promote our sustainability values," comments Kari Tuomala, CEO of Merus Power.