ArcelorMittal plans 1 GW clean energy expansion in India with USD 0.9 bn capex

ArcelorMittal on Monday announced plans to set up three new renewable energy projects in India with a total capital expenditure of USD 0.9 billion, a move that will double its green energy capacity in the country to 2 gigawatt.

The projects, to be developed across Maharashtra, Rajasthan and Gujarat, will have a combined capacity of 1 GW of nominal solar and wind energy, the company said in a statement.

Once completed, the new assets will take ArcelorMittal’s renewable energy capacity in India to 2 GW and increase its total global renewable energy capacity to 3.3 GW.

The company said the electricity generated from the projects will be supplied to Gujarat-based steelmaker AMNS India, a 60:40 joint venture between Luxembourg-based ArcelorMittal and Japan’s Nippon Steel. The total capital expenditure for the three projects is estimated at USD 0.9 billion.

ArcelorMittal chief executive officer 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, the company plans to commission a 36-MW solar project at Amravati in Maharashtra by the first half of 2027. A larger 400-MW solar project with 500 MWh of battery energy storage will be developed at Bikaner in Rajasthan and is expected to be completed by June 2028.

In Gujarat, ArcelorMittal will set up a 250-MW wind project alongside 300 MW of solar capacity and 300 MWh of integrated battery storage at Bachau, with completion targeted for the first half of 2028.

Separately, AMNS India is also developing its own renewable energy project that mirrors ArcelorMittal’s Bachau development in terms of location and scope. The 550-MW project will comprise 300 MW of solar power and 250 MW of wind power and is expected to deliver an annual carbon dioxide reduction of 0.9 million tonnes.

ArcelorMittal said its initial 1-GW renewable energy project in India has already begun supplying clean power to AMNS India earlier this year. Together, the existing project and the three new developments are expected to reduce up to 4 million tonnes of carbon emissions and meet about 35 per cent of the electricity requirements of AMNS India’s Hazira steelmaking operations.