ArcelorMittal Partners with Leading Energy Transition Company in India

SEATTLE (Scrap Monster): Leading steelmaker ArcelorMittal announced that it has established a strategic partnership with Greenko Group- the leading energy transition company in India. The collaboration intends to develop a renewable energy project with nominal capacity of approximately 975 megawatts.

ArcelorMittal will own and fund the project. Greenko will be responsible for the design, construction and operation of renewable energy facilities in the South Indian state of Andhra Pradesh. The commissioning of the project is expected by mid-2024. The project will combine both solar and wind power and will be supported by Grenko’s hydro pumped storage project.

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ArcelorMittal Nippon Steel India (AM/NS India)- the joint venture steel project of the company in India will sign a long-term off-take agreement towards purchase of 250 megawatts of renewable electricity per year. This will ensure that one-fifth of the total energy requirements at the Hazira steelmaking plant comes from renewable resources, thereby resulting in reduction of carbon dioxide emissions by approximately 1.5 million tonnes per annum.

The attractive opportunity will help its joint venture company to reduce electricity costs and carbon emissions, noted Aditya Mittal, CEO, ArcelorMittal.