The USD 0.7 billion project — developed, constructed, and commissioned by AM Green Energy, a wholly owned ArcelorMittal subsidiary — is expected to reduce AM/NS India’s carbon emissions by 1.5 million tonnes per year, supporting AM/NS India’s target to reduce the carbon intensity of the steel it produces by 20% by 2030 (against a 2021 baseline).
The India renewables project has been developed as a hybrid project, integrating the 1 GW of solar and wind capacity with a third-party hydro pumped storage solution (currently under testing and scheduled for commissioning by June 2025), ensuring the project will ultimately deliver at least 250 MW of round-the-clock power. It will provide over 20% of the existing energy requirements at AM/NS India’s steel plant in Hazira, Gujarat.
Vast in scale, the solar site is spread over 2,400 acres and the wind site is spread over 700 acres. Now fully commissioned and running at nameplate capacity, about 1.5 million solar panels and 91 wind turbines will generate 2.5 billion kilowatt-hours (kWh) of power annually, equivalent to powering nearly 10 million Indian households.
“Investing in renewable energy generation is an exciting new business area for ArcelorMittal. It provides cost effective clean energy security for our steelmaking operations and supports our decarbonization objectives,” said Aditya Mittal, CEO of ArcelorMittal.
“The India project is the first of our major renewables projects to be commissioned. It is a large and ambitious project that has been completed efficiently and safely in approximately 18 months — one of the fastest projects of this scale delivered in India — with clean electricity now being provided to AM/NS India. My congratulations go to everyone involved in the project. Its successful delivery demonstrates our commitment to growing our presence in India in a safe, sustainable manner,” added Mittal.
The India renewables project is one of several renewable energy projects ArcelorMittal is developing. In total, the company has 2.3 GW of renewable energy projects underway in India, Brazil, and Argentina.
It also forms part of ArcelorMittal’s suite of strategic growth projects, from which the company expects to generate incremental annual EBITDA of USD 1.9 billion when completed by the end of 2027.
