ArcelorMittal eyes $900 million for 1 GW clean energy push in India

As ArcelorMittal steps up efforts to secure clean power for its domestic operations, the steelmaker will reportedly be investing about $900 million to develop three renewable energy projects in India with a combined capacity of 1 gigawatt (GW). Once completed, the projects will double ArcelorMittal’s renewable energy capacity in India to 2 GW and raise its global renewable portfolio to 3.3 GW. The proposed investments include a 36 megawatt (MW) solar power plant in Amravati, Maharashtra, scheduled for completion in the first half of 2027.

The other two projects are larger hybrid installations: a 400 MW solar project paired with 500 megawatt-hours (MWh) of battery energy storage in Bikaner, Rajasthan, and an integrated project in Bachau, Gujarat, comprising 250 MW of wind capacity, 300 MW of solar capacity and 300 MWh of battery storage.

Both these two projects are targeted for completion by the first half of 2028.

“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,” the company said in a statement.

“With these new projects, 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,” ArcelorMittal CEO Aditya Mittal said. “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.”