ArcelorMittal to Set Up 1 GW of Solar and Wind Projects in India
The three projects will cost $900 million
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Luxembourg-based steel and mining company ArcelorMittal has announced it will set up three renewable energy projects in India totaling 1 GW of solar and wind capacity. The three projects are expected to cost $900 million.
Two of the projects will have a cumulative 800 MWh of battery energy storage capacity. All three projects are planned to be implemented in Rajasthan, Gujarat, and Maharashtra.
The projects are expected to double ArcelorMittal’s energy capacity in India to 2 GW after completion. It will also increase the company’s total global renewable energy capacity to 3.3 GW. The power generated from the three projects will be supplied to AMNS India, ArcelorMittal’s 60:40 Indian steelmaking joint venture with Nippon Steel.
AMNS India is also developing its own renewable energy capacity, similar to ArcelorMittal’s 550 MW project in Bachau, Gujarat. This project comprises 300 MW of solar and 250 MW of wind capacity.
ArcelorMittal’s existing 1 GW renewable energy project began providing clean energy to AMNS India earlier this year. After completion, all of the company’s projects will provide 35% of the energy requirements for AMNS India’s Hazira steelmaking operations.
In 2023, ArcelorMittal said it had agreed with Siemens Gamesa in India and Casa dos Ventos in Brazil to install wind projects to power its steel factories, reducing carbon emissions in the high-emitting sector.
The company partnered with Siemens Gamesa to install wind turbines at its steel facilities. The wind project will form part of a 989-MW wind-solar hybrid renewable energy project in the Kurnool District of Andhra Pradesh.
In Brazil, the company has signed contracts to develop two solar projects with a combined capacity of 465 MW in partnership with Casa dos Ventos. In Argentina, it has partnered with the PCR group to set up a 130 MW solar and wind project.
The Indian government has been promoting the use of renewable energy in hard-to-abate steelmaking. A 2023 meeting organized by the Steel Ministry discussed pathways for the industry’s decarbonization through skill development and incentives. The meeting brought together five of the 13 task forces, all aimed at fostering the green steel ecosystem in India, uniting a consortium of stakeholders, industry experts, and government officials to advance the decarbonization of the steel industry.

