ArcelorMittal, Greenko to jointly set up renewable energy project

25 Mar 2022 CW Team

Steel manufacturing company ArcelorMittal has entered a strategic partnership with Greenko Group to set up renewable energy projects worth $600 million.

The two companies will work together for the construction of a 24x7 or ‘round-the-clock’ nominal solar and wind capacity project of 975 MW. The project cost is $600 million, supported by a hydro pumped storage project of Greenko, and will be owned as well as funded by ArcelorMittal.

Greenko shall design, construct, and operate several renewable energy facilities set up in Andhra Pradesh, Southern India. ArcelorMittal Nippon Steel India, a joint venture of ArcelorMittal in India, will be signing a 25-year offtake agreement with ArcelorMittal for the purchase of 250 MW of renewable power per year from the project.

The project is expected to be commissioned by mid-2024 while the transmission will be via Power Grid Corporation of India.

As per a statement, the project will result in more than 20% of the electricity requirement at Hazira plant of ArcelorMittal Nippon Steel India coming from renewable sources, while will reduce annual carbon emissions by about 1.5 million tonnes.

The project offers ArcelorMittal Nippon Steel India lower electricity costs as well as lower carbon dioxide emissions. It further provides an attractive Return On Investment (ROI) for ArcelorMittal.

Image Source

Also read: ArcelorMittal plans to set up 4.5 GW solar park in Rajasthan

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..