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ArcelorMittal Plans $900 Million Investment to Add 1 GW of Renewable Energy Capacity in India

ArcelorMittal has announced plans to develop 1 GW of new renewable energy capacity in India, spanning solar, wind, and battery energy storage projects across Maharashtra, Rajasthan, and Gujarat. The company expects to invest approximately $0.9 billion in the three developments, significantly expanding its clean energy footprint in the country.

According to the company, electricity generated from the projects will be supplied to AMNS India, ArcelorMittal’s 60:40 steelmaking joint venture with Nippon Steel, supporting the decarbonisation of its Indian operations.

The announced portfolio includes a 36 MW solar project in Amaravati, Maharashtra; a 400 MW solar project paired with 500 MWh of battery storage in Bikaner, Rajasthan; and a hybrid project in Bachau, Gujarat, comprising 250 MW of wind capacity and 300 MW of solar generation integrated with 300 MWh of BESS.

Construction timelines vary across locations. The Maharashtra solar project is scheduled for completion in the first half of 2027, while the Rajasthan and Gujarat hybrid projects are expected to be commissioned in the first half of 2028.

Once operational, the new assets will double ArcelorMittal’s renewable energy capacity in India to 2 GW and increase its global renewable portfolio to 3.3 GW, the company said.

Commenting on the announcement, Aditya Mittal, CEO of ArcelorMittal, stated that the investments reflect the company’s strategy of pairing climate responsibility with long-term business performance. He noted that the projects will ensure a stable supply of clean electricity for steelmaking operations in India while strengthening ArcelorMittal’s global presence in renewable energy.

In parallel, AMNS India is developing its own renewable energy project in Bachau, Gujarat, which mirrors the scope of ArcelorMittal’s hybrid facility. The project will comprise 550 MW of capacity, including 300 MW of solar and 250 MW of wind, and is expected to deliver annual carbon dioxide savings of around 0.9 million tonnes.

Combined with ArcelorMittal’s earlier 1 GW renewable energy project in India, which began supplying clean power to AMNS India earlier this year, the full suite of projects is expected to generate annual CO2 savings of approximately 4 million tonnes. The renewable capacity will meet about 35% of AMNS India’s electricity demand for its Hazira steel plant by 2028, following the facility’s expansion to 15 million tonnes per annum of steelmaking capacity.

Beyond India, ArcelorMittal is also advancing renewable energy projects in Brazil and Argentina through joint ventures. Together with its Indian developments, these projects will contribute to a global renewable generation capacity of 3.3 GW once fully operational.