ArcelorMittal announced a $0.9 billion investment to build three solar and wind projects in India that will add 1 GW of nominal capacity to its portfolio. The new projects will double the company’s renewable‑energy footprint in India to 2 GW and lift its global renewable capacity to 3.3 GW, underscoring a broader strategy to decarbonize operations in key growth markets.
The projects are part of a 60/40 joint venture with Nippon Steel, AMNS India, and will supply power to the Hazira steelmaking complex. By securing a dedicated clean‑energy supply, ArcelorMittal aims to reduce the plant’s carbon intensity, lower operating costs, and strengthen its competitive position in a market where energy pricing and regulatory compliance increasingly influence pricing power.
The investment aligns with India’s 2070 carbon‑neutrality goal and supports AMNS India’s expansion plan to 15 million tonnes of annual steel output. ArcelorMittal estimates the projects will deliver roughly 4 million tonnes of CO₂ savings per year once fully operational, a significant contribution to the company’s global decarbonization targets.
CEO Aditya Mittal said the projects “double our renewable capacity in India, provide a secure supply of clean energy to our steelmaking operations, and reinforce our global footprint in clean power.” He added that the investment demonstrates how climate responsibility and business performance can be mutually reinforcing.
ArcelorMittal’s renewable‑energy strategy extends beyond India, with ongoing projects in Brazil and Argentina that together add several hundred megawatts to its global portfolio. The company’s XCarb Innovation Fund also supports green startups, further diversifying its approach to decarbonization.
The 1 GW addition is a material milestone that signals ArcelorMittal’s commitment to sustainable steel production and positions the company to meet tightening environmental regulations while potentially reducing energy costs over the long term.
The announcement reflects a strategic shift toward integrated, low‑carbon operations and enhances the company’s resilience against volatile fossil‑fuel prices and regulatory headwinds.
The projects also provide a competitive advantage in India, where clean‑energy supply is increasingly linked to pricing power and regulatory compliance, reinforcing ArcelorMittal’s leadership in the region.
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