ArcelorMittal, Greenko partners for 975 MW renewable energy project

24 Mar 2022 CW Team

ArcelorMittal announced its strategic partnership with Greenko Group to develop a 975 MW of nominal solar and wind capacity renewable energy projects in India.

The $0.6 billion projects will include solar and wind power capacity, backed by Greenko’s hydro pumped storage project, to overcome the intermittent nature of wind and solar power generation. The renewable energy project is expected to be commissioned by mid-2024.

ArcelorMittal will own and fund the renewable energy project. Greenko will be responsible for designing, constructing and operating the renewable energy facilities in Andhra Pradesh.

ArcelorMittal’s joint venture (JV) firm in India, ArcelorMittal Nippon Steel India (AM/NS India), will enter into a 25 years off-take agreement with ArcelorMittal to purchase 250 MW of renewable electricity per year from the project.

It will result in over 20% of the electricity requirement at the company's Hazira plant in India coming from renewable sources, reducing carbon emissions by around 1.5 million tonnes (mt) per year.

The project offers AM/NS India the dual benefits of lowering electricity costs and reducing carbon dioxide emissions. It will also provide an attractive return on investment for ArcelorMittal.

CEO and Managing Director of Greenko, Anil Kumar Chalamalasetty, told the media that it is a pioneering partnership with the leading steelmaker in the world and aims to serve as a blueprint for the adoption of renewable power for large-scale steel manufacturing plants in India. The project also contributes to India’s commitment to 500 GW of renewable energy capacity installations by 2030.

Image Source

Also read: Greenko to set up hybrid energy project in Rajasthan

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..