ArcelorMittal plans 3 renewable energy projects in India at USD 0.9 bn capex

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ArcelorMittal on Monday announced plans for setting up three new clean energy projects in India with a total capital expenditure of USD 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 in a statement.

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 USD 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.

ArcelorMittal CEO Aditya Mittal said: "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." According to the statement, ArcelorMittal has planned for a 36-MW solar project at Amravati in Maharashtra by the first half of 2027.

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 Bachau in Gujarat by the first half of 2028.

ArcelorMittal said 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's initial 1GW Indian renewables project has already started providing clean energy to AMNS India earlier this year, it said. The existing project and the three new projects, once completed, will together reduce up to 4 million tonnes of carbon emissions, and provide 35 per cent of electricity requirements for AMNS India's Hazira steelmaking operations.