ArcelorMittal Unveils $900M Green Energy Projects in India

• ArcelorMittal invests $900M in India green energy
• 995 MW Gujarat hybrid + 975 MW AP projects
• Powers steel plants; cuts emissions significantly

Through its renewable arm, ArcelorMittal Nippon Steel India (AM/NS India), global steel major ArcelorMittal has pledged $900 million (around 7, 600 crore) towards three major green energy projects in India. The investments are spread over Gujarat and Andhra Pradesh, with a focus on solar and wind, hybrid projects to supply the company's steel manufacturing operations with clean electricity, thereby the company progressing its decarbonization goals and contributing to India's renewable energy target.

In Gujarat, a 995 MW hybrid renewable energy project, solar 745 MW and wind 250 MW capacity is being set up in Kutch district. This plant will produce close to 2, 000 MWh per year, which will be able to cover a large part of the electricity demand of the Hazira plant of AM/NS India. Also, a 250 MW solar plant in Banaskantha, Gujarat, is being established to provide additional support to the supply.

The 975 MW hybrid project in Anantapur district, Andhra Pradesh, will combine solar and wind power generation to supply green power to the upcoming Visakhapatnam steel plant. In total, these projects will produce more than 4, 000 GWh of clean electricity annually after their completion, thereby drastically reducing carbon emissions from steel productionthe toughest of the energy, intensive industriesglobally.

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CEO of AM/NS India, Dilip Oommen, said: "These investments are the manifestations of our pledge to sustain steelmaking in India. by which we will be able to manufacture some of the cleanest steels globally while supporting India's renewable energy goals." The ventures are consistent with ArcelorMittal's worldwide net, zero by 2050 commitment and utilize India's plentiful solar and wind resources for green energy at a competitive cost.

The projects, by signing captive renewable supply agreements for the long term, improve the companies' operational resilience, reduce exposure to energy price fluctuations, and place AM/NS India among the leaders in the production of low, carbon steel, which is experiencing high demand in the eco, conscious automotive, construction, and infrastructure sectors.