ArcelorMittal on Monday said it will invest about $900 million to develop three renewable energy projects in India with a combined capacity of 1 gigawatt (GW), as the steelmaker steps up efforts to secure clean power for its domestic operations.
Once completed, the projects will double ArcelorMittal’s renewable energy capacity in India to 2 GW and raise its global renewable portfolio to 3.3 GW, the company said.
What do the proposed investments include?
The proposed investments include a 36 megawatt (MW) solar power plant in Amravati, Maharashtra, scheduled for completion in the first half of 2027. The other two projects are larger hybrid installations: a 400 MW solar project paired with 500 megawatt-hours (MWh) of battery energy storage in Bikaner, Rajasthan, and an integrated project in Bachau, Gujarat, comprising 250 MW of wind capacity, 300 MW of solar capacity and 300 MWh of battery storage. These two projects are targeted for completion by the first half of 2028.
“Total capital expenditure for the three projects is anticipated to be $0.9 billion and the power generated will be supplied to AMNS India, ArcelorMittal’s 60/40 Indian steelmaking joint venture with Nippon Steel,” the company said in a statement.
ArcelorMittal on the purpose of these projects
AMNS India operates a large steelmaking facility at Hazira in Gujarat and is in the midst of an expansion that will take its capacity to 15 million tonnes per annum. ArcelorMittal said the new renewable projects are aimed at supporting this growth while lowering the carbon footprint of its Indian operations.
“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,” ArcelorMittal CEO Aditya Mittal said. “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.”
Separately, AMNS India is developing its own renewable energy project in Bachau, Gujarat. This 550 MW project will include 300 MW of solar and 250 MW of wind capacity and is expected to deliver annual carbon dioxide savings of about 0.9 million tonnes, mirroring the scale and scope of ArcelorMittal’s Bachau installation.
ArcelorMittal said that, together with its initial 1 GW renewable project in India that began supplying power earlier this year, the full set of projects will deliver annual carbon dioxide savings of around 4 million tonnes. They are expected to meet about 35% of the electricity requirements of AMNS India’s Hazira operations, based on projected energy consumption in 2028.
Beyond India, the company is also developing renewable energy projects in Brazil and Argentina through joint ventures, taking its total planned clean power capacity across the three countries to 3.3 GW when fully operational.
