ArcelorMittal Triples Renewable Capacity in India with Three New Projects
ArcelorMittal announces the development of three renewable energy projects in India, totaling 1 GW of nominal solar and wind capacity. These facilities, representing an investment of $0.9 billion, will increase the global renewable capacity of the steelmaker to 3.3 GW once completed.
Expansion of Renewable Energy in India
According to the release, the three solar and wind projects will double ArcelorMittal's renewable energy capacity in India, increasing it from 1 GW currently to 2 GW. The energy generated will be directed to AMNS India, the steel joint venture owned 60% by ArcelorMittal and 40% by Nippon Steel. The group indicates that the total investment for these three facilities amounts to $0.9 billion. The company also notes that AMNS India is developing its own renewable project in Bachau, Gujarat, which will include 300 MW of solar capacity and 250 MW of wind capacity, totaling 550 MW. This specific project is expected to save 0.9 million tons of CO2 annually.
Impact on Carbon Emissions
ArcelorMittal specifies that all projects, including the initial 1 GW project commissioned earlier this year, will enable an annual reduction of 4 million tons of CO2 emissions. According to the group, these facilities will supply 35% of the electrical needs of AMNS India's steel operations in Hazira, based on an energy consumption forecast for 2028. This projection takes into account the ongoing expansion of AMNS India, which aims to increase its annual steel capacity to 15 million tons. The release emphasizes that this approach ensures a supply of clean energy for the group’s steel production activities in India.
Global Renewable Projects
Beyond India, ArcelorMittal indicates it is developing renewable energy projects in Brazil and Argentina through joint ventures. According to the company, the total capacity of its Indian, Brazilian, and Argentine projects will provide a total electrical production capacity of 3.3 GW when all facilities are operational. The group specifies that in 2024, it generated a revenue of $62.4 billion, produced 57.9 million tons of raw steel, and 42.4 million tons of iron ore. ArcelorMittal is listed on the stock exchanges of New York, Amsterdam, Paris, Luxembourg, and the Spanish stock exchanges of Barcelona, Bilbao, Madrid, and Valencia.
