ArcelorMittal announced three new renewable energy projects in India, totaling 1GW of nominal solar and wind capacity. Upon completion, the projects will double ArcelorMittal's renewable energy capacity in India to 2GW and increase the Company's total global renewable energy capacity to 3.3GW.

Project Details and Specifications

The three projects span multiple Indian states with varying capacities and technologies. The Amaravati project in Maharashtra will feature 36MW of solar capacity with forecast completion in the first half of 2027, generating annual CO2 savings of 0.04 million tonnes. The Bikaner project in Rajasthan is the largest solar component, featuring 400MW of solar capacity paired with 500 MWh of battery energy storage.

This project is scheduled for completion in the first half of 2028 and will deliver annual CO2 savings of 0.65 million tonnes. The Bachau project in Gujarat combines multiple technologies, including 250MW of wind power, 300MW of solar power, and 300 MWh of integrated battery storage. Set for completion in the first half of 2028, this project will achieve the highest annual CO2 savings at 0.9 million tonnes.

Financial Investment and Power Supply

Total capital expenditure for the three projects is anticipated to be USD 0.9 billion. The power generated from all three projects will be supplied to AMNS India, ArcelorMittal's 60/40 Indian steelmaking joint venture with Nippon Steel. ArcelorMittal CEO Aditya Mittal commented on the investment, stating: “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.”

Additional Joint Venture Development

AMNS India is independently developing its own renewable energy project that mirrors ArcelorMittal's Bachau project. This additional project is located in Bachau, Gujarat, and has a 550MW capacity, comprising 300MW of solar power and 250MW of wind power. The AMNS India project will also generate annual CO2 savings of 0.9 million tonnes.

Cumulative Impact and Global Portfolio

ArcelorMittal's initial 1 GW Indian renewables project began supplying clean energy to AMNS India earlier this year. When all projects are 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, following 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 through joint venture partnerships. Combined, ArcelorMittal's Indian, Brazilian, and Argentinian projects will provide a total of 3.3 GW of electricity generation when all projects are operational. ArcelorMittal operates as one of the world's leading integrated steel and mining companies, with a presence in 60 countries and primary steelmaking operations in 14 countries.

The company is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. In 2024, ArcelorMittal generated revenues of USD 62.4 billion, produced 57.9 million metric tonnes of crude steel, and 42.4 million tonnes of iron ore. The company is listed on stock exchanges in New York, Amsterdam, Paris, Luxembourg, and on Spanish stock exchanges in Barcelona, Bilbao, Madrid, and Valencia.

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