Integrated steel and mining major ArcelorMittal has announced three new renewable energy projects in India totalling 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.

How much is the expenditure for 3 projects?

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.

Project to provide secure supply of clean energy to Indian ops: CEO

ArcelorMittal CEO, Aditya Mittal, said with these new projects, the company is doubling its renewable energy capacity in India, providing a secure supply of clean energy to its 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.” 

What are other key projects, long-term plans of AMNS?

In addition to ArcelorMittal’s three new projects, AMNS India is also developing its own renewable energy project, which mirrors ArcelorMittal’s Bachau project in terms of location (Bachau, Gujarat), scope (550MW project, consisting of 300MW of solar power and 250MW of wind power) and annual CO2 savings (0.9 million tonnes).

Alongside ArcelorMittal’s initial 1GW Indian renewables project, which started providing clean energy to AMNS India earlier this year, when all projects 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, post 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 in joint venture partnerships. Combined, its Indian, Brazilian and Argentinian projects will provide a total of 3.3GW of electrical power generation when all projects are operational.  

ArcelorMittal has a presence in 60 countries and primary steelmaking operations in 14 countries. It 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. It sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and, 42.4 million tonnes of iron ore.