ArcelorMittal, Greenko partners for 975 MW renewable energy project
POWER & RENEWABLE ENERGY

ArcelorMittal, Greenko partners for 975 MW renewable energy project

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

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

Next Story
Infrastructure Energy

South West Pinnacle Wins Rs 30 Cr Oman Mining Contract

South West Pinnacle Exploration Ltd has secured a Rs 30 crore contract from Minerals Development Oman (MDO) for mining exploration in concession areas 12B and 13.The two-year project will be carried out via Alara Resources LLC, a JV in Oman. MDO, backed by Oman’s investment authorities, focuses on monetising mineral wealth.The contract covers copper, gold, and chromite and highlights South West Pinnacle’s growing footprint in international exploration and mining services. ..

Next Story
Equipment

Godrej GEG Boosts Intralogistics with AI and Green Tech

Godrej Enterprises Group (GEG) is revolutionising warehouse and factory logistics through its Material Handling Equipment and Storage Solutions arms by integrating AI, IoT, and automation.With 20–25% market share and 85% local sourcing, GEG champions Atmanirbhar Bharat and sustainability. The Chennai plant, a green manufacturing leader, uses RoHS-compliant materials and has slashed energy consumption by 60%.GEG serves e-commerce, FMCG, retail, and cold chains with high-performance racking and electric forklifts. Upcoming IoT-enabled forklifts and telematics solutions aim to improve speed, sa..

Next Story
Infrastructure Urban

Amit Shah Inaugurates Key Projects Across Gujarat

Union Home Minister Amit Shah inaugurated and laid the foundation stone for various projects in Gujarat’s Panchmahal district and Ahmedabad.In Godhra, he inaugurated the Center of Excellence building, sports complex, reservoir, and Miyawaki plantation. In Ahmedabad, he unveiled a new cooperative complex in Adaroda village and a primary school in Juwal.These projects, under the Model Co-op Village scheme, aim to boost education, sustainability, and rural development across the state. ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?