ArcelorMittal Renewables has announced three new renewable energy projects in India, totaling 1 GW of solar and wind capacity. Upon completion, these initiatives will double the company’s renewable energy capacity in India to 2 GW and elevate its global renewable portfolio to 3.3 GW.
The projects are:
The ArcelorMittal Renewables projects represent a total capital expenditure of approximately $0.9 billion, with the generated power dedicated to powering AMNS India—ArcelorMittal’s 60/40 joint venture steelmaking operation with Nippon Steel.
Commenting, ArcelorMittal CEO, Aditya Mittal, said:
“With these new projects, we are doubling our renewable energy capacity in India, providing a secure supply of clean energy to our Indian steelmaking operations and strengthening our global footprint in clean power. Our approach is to invest in projects that are sustainable, economically sound, and aligned with our ambition to make a meaningful contribution to the energy transition. These investments show how climate responsibility and business performance can go hand in hand.”
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In addition to ArcelorMittal’s three new projects, AMNS India is also developing its own renewable energy project, which mirrors ArcelorMittal’s Bachau project in terms of location (Bachau, Gujarat), scope (550MW project, consisting of 300MW of solar power and 250MW of wind power) and annual CO2 savings (0.9 million tonnes).
Alongside ArcelorMittal’s initial 1GW Indian renewables project, which started providing clean energy to AMNS India earlier this year, when all projects complete they will deliver total annual CO2 savings of 4 million tonnes, and provide 35% of electricity requirements for AMNS India’s Hazira steelmaking operations (based on forecast energy consumption in 2028, post AMNS India’s ongoing expansion to 15 million tonnes of annual steelmaking capacity).
The Company is also developing renewable energy projects in Brazil and Argentina in joint venture partnerships. Combined, its Indian, Brazilian and Argentinian projects will provide a total of 3.3GW of electrical power generation when all projects are operational.
