ArcelorMittal to Invest $0.9 Billion in 3 New Clean Energy Projects in India
ArcelorMittal has planned for a 36-MW solar project at Amravati in Maharashtra by the first half of 2027
New Delhi: Luxembourg-based global steel and mining giant ArcelorMittal on Monday announced plans for setting up three new clean energy projects in India with a total capital expenditure of $0.9 billion, aiming to double its green energy portfolio in the country to 2-gigawatt. These projects will come up in Maharashtra, Rajasthan, and Gujarat, with the combined capacity of 1GW of nominal solar and wind energy, the company said.
Upon completion, the projects will double ArcelorMittal’s renewable energy capacity in India to 2-GW and increase the company’s total global renewable energy capacity to 3.3 GW. Total capital expenditure for the three projects is anticipated to be $0.9 billion, and the power generated will be supplied to Gujarat-based steel player AMNS India. AMNS India is a 60:40 joint venture of Luxembourg-based ArcelorMittal and Nippon Steel of Japan.
In an official statement, ArcelorMittal CEO Aditya Mittal said that the company is doubling our renewable energy capacity in India, providing a secure supply of clean energy to our Indian steel-making operations and strengthening our global footprint in clean power. “ArcelorMittal has planned for a 36-MW solar project at Amravati in Maharashtra by the first half of 2027,” the company said.
As per the company, a 400-MW solar + 500-MWh battery energy storage project would be set up at Bikaner in Rajasthan, and the company expects to complete it by June 2028. Another 250-MW wind + 300MW solar + 300 MWh integrated battery storage project would come up in Bhachau in Gujarat by the first half of 2028.
“AMNS India is also developing its own renewable energy project, which mirrors ArcelorMittal's Bachau project in terms of location (Bachau, Gujarat), scope (550 MW project, consisting of 300 MW of solar power and 250 MW of wind power), and annual CO2 reduction of 0.9 million tonnes,” ArcelorMittal said.
